www.irs.gov
Friends / Real Estate Sector USA
I will not be able to write about it. But here's my professional recommendation:
If you rent a property in the US - you have various payments such as the management company or other service providers
If you have paid a service provider (you know that is not a US CORPORATION) over 600 in the tax year,
I suggest you take out a form called 1099
This is a form in which you actually record how much was paid to him during the year and for what.
To issue the form, you will need to ask for a signed w-9 form
You can download here:
https://www.irs.gov/pub/irs-pdf/fw9.pdf
Then to broadcast the 1099 form
You can use this company:
https://www.tax1099.com/
Complete execution up to: 31 in January 2018
You can contact me for help (but in principle there is no need - it's simple)
Why do that?
So that you can improve the chance of claiming a recognized selling expense of 20 per cent of the profit generated by rental activity (not relevant to a single clip).
Thanks for the explanation. This is very important and not everyone is aware of it