US Taxes for foreign investors

Member since 2019 · 31 posts · 12 votes

Hi Community,
I was wondering if some of you are foreign investors here. I recently bought a property in the Smokys and I am totally newbie in this industry. As I am neither a US citizen nor a resident, I would like to know which taxes I need to pay and which rules I need to follow.
So, if you are a CPA with international/cross-border knowledge please let me know, I would love to connect. As April 15 is approaching, I understand that no CPA would be available to talk right now. Therefore, I will submit an extension in the meanwhile.
Thanks in advance!

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Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
2y
Hey @Israel Mendiola,
As accountants on BP we cannot self-promote.

I can only say that from our 100s of clients in your situation who are helping family in India and Pakistan own in the US, it widely depends what rules and regulations to follow based on your facts and circumstances. I would advise you reach out to someone who is experienced here and do NOT try to do it yourself, as it can get tricky fast!
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Israel Mendiola
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Member since 2019 · 31 posts · 12 votes
2y

Hi Zachary,
Thanks for replying to me.
It is not easy to connect to someone who knows international CPA. Most of the guidance focuses on individuals who reside in the US but not foreigners who invest in US properties and live outside.
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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
2y
There are documents that normally third parties will ask you about your 'status'

If you work with a property management company, theoretically, they are suppose to withhold money on your behalf which trigues you having to file a return.

You may be required to file a 1040NR which is different than the 1040 form that Citizens / Residents file.
[email protected]917-280-8544
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