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dishes591
New Member

What to do if own property outside of us

If i own property outside of the US (in Montenegro), what are some things that I would have to deal with?
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Fern
New Member

What to do if own property outside of us

If you have rental income, you would report it on your US tax return just like you would report rental property owned and operated in the US. You will have to convert income and expense items to US dollars.

If it is a second home for you, you can still include mortgage interest and property taxes in your calculation of itemized deduction.

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Fern
New Member

What to do if own property outside of us

If you have rental income, you would report it on your US tax return just like you would report rental property owned and operated in the US. You will have to convert income and expense items to US dollars.

If it is a second home for you, you can still include mortgage interest and property taxes in your calculation of itemized deduction.
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