me: Real Estate Investment and Taxes?
Hi!
If I want to invest in the US by buying a multifamily house and renting it out but I don’t live in the US, do I still have to pay Federal Taxes on my profits?
Thanks!
Answers and Views:
Answer by bostonianinmo
Yep, you sure do!
YES: You would be legally binded to pay US taxes.Answer by jks_mi
If you make more than $ 3,300 in profit you will be required to file form 1040-NR to report income you made in the US. You will also need to check with the state and locality where you buy the property to see if there are other income tax and other regulatory issue that you will need to be concerned with.
Just so are aware you can write any state or local income tax paid as a deduction on Form 1040-NR Schedule A
Leave a Reply