@OK_I , if the simple situation is that you are renting out your property, have another manage the property for you , then the easiest is to file a schedule-E recognizing 1. the rental status of the property; 2. show the gross income; 3. recognize the expenses including the amount being paid to the "agent"; 4. recognize the depreciation. This will result in a loss for you for the US return and typically you will be able to offset your ordinary income and therefore pay less in taxes . The other effect will be that your basis in the property when disposing , will be adjusted as follows -- reduced by the accumulated allowed depreciation and increased by cost of any and all improvements over the years . Thus your gain at disposal will be affected and additionally that portion of the gain that is due to the accumulated depreciation will be treated as ordinary gain and rest as Capital gain. In this simple situation you may or may not need tax attorney consultation --a tax professional may be sufficient or you can do it yourself.
Anything more I can help you with ?
