@b_h124
assuming that (1) you are a US person ( citizen/ GreenCard holder/ Resident for Tax purposes); (2) you own the property ( i.e. you not an agent for the owner); (3) you are not in the business of renting out properties (i.e. this rental property is not part of a business-- schedule-C for example ); and (4) the income property is situated in the USA territory, the income is sourced to USA and taxed by the USA as domestic income. It is not material as to whom is the other party in a rental contract and/or how the rent is paid. You will have to recognize the rental income and the associated & allowable expenses & depreciation on Schedule-E when you file your form 1040 ( and ditto for the state where the income property is situated.
As far as reporting of the international wire transfer, there is no requirement to report this unless the amount is >= US$100,000 ( form 3520 ) -- but this depends on some other factors. You bank receiving the amount will raise the routine reports in line with current reporting rules at the time (SARs).
Does this answer your query ?
