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Im a real estate agent and somebody from other country want to buy a house here. he want to know how much percentage he would pay for the income rental on taxes.

Submitted: 9 months ago.Category: Tax
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9/17/2017
Tax Professional: socrateaser, Lawyer replied 9 months ago
socrateaser
socrateaser, Lawyer
Category: Tax
Satisfied Customers: 39,988
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Hello,

Absent a treaty between your client's nation and the USA, there is a flat 30% withholding on all nonresident income generated from a U.S. source. Whether or not the entire 30% would be taxed at the end of the year, depends on the nonresident taxpayer's other income and deductions, as filed on his state and federal income tax forms.

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Tax Professional: socrateaser, Lawyer replied 9 months ago

Hello again,

I see that you have reviewed my answer, but that you have not provided a rating. Do you need any further clarification concerning my answer, or is everything satisfactory?

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Customer reply replied 9 months ago
30% when the person sells, but how much for the rental income
Tax Professional: socrateaser, Lawyer replied 9 months ago

It's 30% for income, capital gain, etc.

If the nonresident is able to immigrate to the USA, or if he were to be part of a private corporation that holds the property, then that could change the scenario. But, that sort of asset planning is extremely complicated and there's no way to address the issue in this forum. You may want to have your client consult with an asset protection attorney who has experience with international clients.

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Tax Professional: socrateaser, Lawyer replied 9 months ago

Hello again,

I see that you have reviewed my answer, but that you have not provided a rating. Do you need any further clarification concerning my answer, or is everything satisfactory?

If you need further clarification, concerning this matter, please feel free to ask. If not, I would greatly appreciate a positive feedback rating for my answer (click 3, 4 or 5 stars) – otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

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