Rental of U.S. Property Owned by Foreigners

Small model home with keys coins and calculator sits on table to represent rental of U.S. property owned by foreigners

Let the FIRPTA Group help you with all your rental needs. We will assist you in filing your 1040NR tax returns, state sales tax and local tourist tax returns. Our knowledgeable team can also answer any questions you have about rental income and expenses.

If you rent your U.S. property, you are required to:

  1. File a 1040NR tax return every year
  2. Apply for an individual taxpayer identification number (ITIN)
  3. File state and local tax returns monthly, if you rent for less than six months
  4. Pay taxes on the profit total income received, minus total expenses

Additionally, you can write off expenses that include, but are not limited, to:

  • Operating expenses
  • Repairs and maintenance
  • Mortgage interest
  • Property insurance
  • HOA fees
  • Travel primarily related to your rental activity

Learn More

For more information about this topic, please see our video, entitled Foreigner: Renting U.S. Real Estate.