Hello,
I received 1099 k rental income from Philippines. I participated 100%. I do all my booking and no co-host expenses. I do everything online and self checkin.
Note: I haven’t file the 2024 taxes in Philippines yet. I bought my turbo tax yesterday and haven’t started.
1. Should use schedule E for my qualified expenses and accumulated depreciation (years?) for my 2 units in the Philippines (condos). Also, do I have to list separately for each units?
2. Form 1116- should I enter info also?
3. I have a carryover loss from my previous US condo rental 3 years Argo, can I use to offset my foreign rental income?
thank you!
