I am a non-resident of the US (had abandoned green card) and am planning to sell a property I own in the US I have been renting for the last 3 years.
I have ~$75K of passive losses, and around $200K of depreciation to be recaptured. If I sell the property and assume I make zero gain outside of the depreciation recapture...
- I understand I have to pay 25% tax on the depreciation recapture. Is that regardless of my ultimate taxable income level? Re-highlighting I do not have any US wages/salaries as am a non-resident for tax purposes.
- Would I be able to use my passive losses to offset some of the recapture ultimately? I do not have other types of income in the US (no wages, no salaries, no investment income)
