You do not have to report your foreign property on your tax return.
Foreign real estate is not a specified foreign financial asset required to be reported on Form 8938. For example, a personal residence or a rental property does not have to be reported. Ref: IRS Foreign Financial Assets
However, if you are renting the foreign property you must report foreign rental activity on your U.S. tax return just like you would report any owned U.S. property.
To enter your rental:
- Open or continue your return, if you haven’t already
- Locate the Search bar in the upper right of your screen. Search for rentals and select the Jump to link at the top of the search results
- Answer Yes to the question Did you have any income from rentals or royalties?
- On the next screen, What are you here to report?, select Rentals and Continue
- Follow the screen prompts to enter your rental information.
This TurboTax link Where do I enter income and expenses from a rental property? has information you may find useful.
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