Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

Tax Treatment of Offshore Real Estate Holdings and Foreign Housing Expenses

Posted by William Byrnes on October 6, 2014


AdvisorFYI » Tax Treatment of Offshore Real Estate Holdings and Foreign Housing Expenses.

by Mr. Edward D. Nieto

The Internal Revenue Service (IRS) does not require that offshore real estate be reported as a foreign financial asset such as a personal residence or a rental property held by an American expatriate or a United States Government employee working overseas.1It is only when the real estate is held through a foreign entity such as a corporation, partnership, trust or estate, that the interest in the entity needs to be specified and reported as foreign financial asset if the total value of all specified foreign financial assets is greater than the applicable reporting threshold.2

Read on at AdvisorFYI » Tax Treatment of Offshore Real Estate Holdings and Foreign Housing Expenses

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