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Get your taxes done using TurboTax
Foreign Rental Income (and expenses) will be entered on Schedule E.
Any Foreign Tax you paid on the rental income can be claimed as a Foreign Tax Credit in that section. Don't enter the Foreign Income Tax as a 'Rental Expense' on Schedule E.
Enter the Net Rental Income in the Foreign Tax Credit section as the amount of income associated with the Foreign Income Tax you are claiming.
Foreign taxes paid on the land or building would be entered as an expense on the Schedule E (Rental Income/Expense) section of the program.
Click this link for more info on Tax on Foreign Rental Income.
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March 21, 2022
3:33 PM
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