Ask Experts Questions for FREE Help !
Ask
    sofi5461's Avatar
    sofi5461 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 6, 2011, 09:58 PM
    Do I need to pay any real estate property taxes to the IRS on foreign property?
    I'm a US Citizen with real estate property in another country. I currently reside on the US. The properties are currently rented. Do I need to pay any real estate property taxes to the IRS? I know I should include this income in my tax return. But is there any tax for owning the property that I should pay? I'm already paying taxes on the country. Thanks!
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Feb 7, 2011, 07:06 AM

    There is no federal property tax, so no - you do not have to pay anything additional to the IRS beyond taxes on the income you earn on the property rental.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Deducting property/real estate taxes [ 4 Answers ]

I bought a house on Oct 29th 2009. At closing, I paid 2 months real estate taxes. My first mortgage payment was due on Dec 1st 2009 and I also paid real estate taxes to my lender in addition to my mortgage payment. I received a 1098 from my lender and only lines 1 and 2 were filled in for my...

Do I pay RENT to a Real Estate Agent on property that is in process of foreclosure [ 2 Answers ]

I rent property and pay a real estate agent at the beginning of each month. The real estate agent pays the owner of the property. The owner has not paid their mortgage in six months. The tenants (me) has received a copy of the foreclosure civil suit summons. The owner of the property may or may not...

Lien against real estate property [ 3 Answers ]

I would like to file a lien on my aunts house. She is very sick and her kids (who by the way have never been around in ten years) are wanting to sell it. I am in her will, as well as the other two kids. I have spent $16,000 in repairs over the past few years to keep it rented. The rent is only...

Property Taxes on Property sold for estate settlement. [ 1 Answers ]

We have sold property in Indiana that will be part of and estate settlement. The property sold for less than $100,000. The money from this property will be divided between the 6 children. What taxes will be owed for the sale of this property?

View more questions Search