Do non-US citizen home owners pay tax if they rent out their property?
Asked on 2/09/10, 2:28 pm
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
The rent would be considered gross income and would need to be reported the US income tax return form 1040. The expenses of the real estate, such as the mortgage, insurance, taxes, and repairs would be deductible against the income received.
I hope this helps!
Ron Cappuccio
856-665-2121
www.TaxEsq.com
Answered on 2/18/10, 8:38 am
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