Tax Considerations for Foreign Rental Property: Holding Structures, Reporting Rental Income and Expenses, FTCs
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This webinar will discuss the considerations and caveats of U.S. residents owning foreign rental property. Our seasoned panel of international tax experts will explore U.S. and foreign holding structures, residential and nonresidential rentals, and properly reporting rental income and expenses with a focus on reducing a taxpayer's overall tax burden.
- Ownership structures
- Other considerations of owning foreign property
- Types of property
- Vacation homes
- Rental income
- Double taxation relief
- Tax treaties
- Foreign tax credits
- VII. Foreign currency conversion
- VIII. Other reporting requirements
The panel will review these and other critical issues:
- How is foreign currency converted to U.S. dollars when reporting income and expenses?
- What are the income tax caveats of selling foreign-owned property?
- What rental expenses are deductible to lower a taxpayer's U.S. income tax obligation?
- Using U.S. and typical foreign entities for acquiring and holding foreign real property
- What are the U.S. FBAR and Form 8938 reporting obligations for foreign-owned real estate?
Alison N. Dougherty, J.D., LL.M., CPA
Ms. Dougherty specializes in U.S. international tax reporting, compliance, consulting, planning, and structuring as a... | Read More
Ms. Dougherty specializes in U.S. international tax reporting, compliance, consulting, planning, and structuring as a significant contributor to the firm’s international tax practice. She has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and foreign accounts. Ms. Dougherty provides outbound U.S. international tax guidance to U.S. individuals and businesses with activities in other countries. She also provides inbound U.S. international tax guidance to nonresident individuals and businesses with activities in the U.S. Ms. Dougherty has counseled U.S. taxpayers regarding the outbound formation, capitalization, acquisition, operation, reorganization, and liquidation of foreign companies. She has significant experience with U.S. federal nonresident tax withholding, foreign partner tax withholding, and FIRPTA withholding. She works closely with nonresident individuals and businesses regarding inbound U.S. real property investment. Additionally, Ms. Dougherty has assisted U.S. taxpayers with IRS amnesty program disclosures of offshore assets and foreign accounts.Close
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