foreign property excluded if its a vacation home
Hello David,
My tax accountant just told me that the question on the tax form " do You own a foreign Property" does not apply to a me since my property in the U.S. in primarily use as a vacation home and does not earn any income whatsoever. Is he right?
Thanks,
dxxxxxx
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david ingram replies:
He is correct. If you are not renting it out, it is not reportable.
My tax accountant just told me that the question on the tax form " do You own a foreign Property" does not apply to a me since my property in the U.S. in primarily use as a vacation home and does not earn any income whatsoever. Is he right?
Thanks,
dxxxxxx
_______________________________________________
david ingram replies:
He is correct. If you are not renting it out, it is not reportable.
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