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What are the forms for reporting Rental Income to the IRS on…

What are the forms for...
What are the forms for reporting Rental Income to the IRS on foreign properties - we collect each month? Is this filed separately from our personal returns?
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Answered in 1 hour by:
1/10/2018
Chad EA, CFP ®
Chad EA, CFP ®, Enrolled Agent
Category: Tax
Satisfied Customers: 1,361
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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HelloCustomer

You will report rental income from a foreign property the same as you do a US rental property. The form you use is Schedule E and you then report that income to your.

You may be able to take a credit against your US federal income tax for income taxes paid to the foreign country on your net rental income after deducting all expenses.

___

Here is an additional source for your verification.

FOREIGN REAL ESTATE U.S. IRS TAX RULES YOU MUST FOLLOW

http://www.escapefromamerica.com/2011/03/tax-rules-when-you-own-and-rent-property-abroad/

"If you own the international international real estate in your individual name, you report all of your rental income and expenses on Schedule E of your Form 1040. All of the allowable expenses are the same as for US property."

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Chad EA, CFP ®
Chad EA, CFP ®, Enrolled Agent
Category: Tax
Satisfied Customers: 1,361
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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Customer reply replied 1 month ago
for income taxes paid to the foreign country on your net rental income after deducting all expenses. Where?
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Customer reply replied 1 month ago
Thank you
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Chad EA, CFP ®
Chad EA, CFP ®
Chad EA, CFP ®, Enrolled Agent
Category: Tax
Satisfied Customers: 1,361
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Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA

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