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neko
New Member

I have house in aborad and rental income. Do I need any form and report?

 
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2 Replies
DS30
New Member

I have house in aborad and rental income. Do I need any form and report?

For your house abroad - You will not need to file any information with your US income tax return related to owning a house abroad that is for personal use. However, you will be able to claim both foreign mortgage interest (within limitations) and foreign property taxes on Schedule A if you itemize your deductions.

To enter these deductions in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "Schedule A" in the search bar then select "jump to Schedule A". TurboTax will guide you in entering this information.

For your rental income - You will need to report all rental income worldwide (in USD) on your US income tax return if you are a US citizen or resident. You will need to report all rental income but will be able to deduction various rental expenses related to this rental income (such as management fees, utilities and depreciation). All real property rental income will be reported on Schedule E as part of your US personal income tax return.

To enter rental income and expenses in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "rental income and expenses" in the search bar then select "jump to rental income and expenses". TurboTax will guide you in entering this information.


I have house in aborad and rental income. Do I need any form and report?

When I read this, my understanding is that I can complete a Schedule E with my rental income and expenses from my foreign (Puerto Rico) .  Kindly confirm

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