Webcast: Ownership of U.S. Real Estate by Nonresident: Income Taxation During Ownership (CAFIREP15)
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7/14/2015
When: 07/14/2015
11:30 AM until 12:30 PM
Where: Webcast
Louisiana
United States
Presenter: Jurate Gulbinas


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Registration Fees
Members $35
Non-Members $50

CPE: 1 hours
Level: Overview
Vendor: CalCPA
Category: Taxation
Prerequisites: None
Advanced prep: None

Who should attend: CPAs and lawyers.

Nonresidents with US real estate investments face income tax filing requirements and taxation of rental income. Make sure you understand the federal taxation of rental income; how to prevent federal income tax of 30 percent of gross (not net) income from rental; different holding structures; and compliance requirements related to what to file and when. Also, we'll discuss branch profits tax rules applicable to foreign corporations and methods for eliminating that tax.

Objectives

  • Identify the filing requirements for direct, corporate, partnership and trust holding structures.
  • Determine the branch profits tax and how to control it.
  • Recognize how to make the net election so rental income is taxed on net rather than gross income.
  • Identify withholding tax requirements that apply to different methods of owning real estate.

Major Topics
  • 1120-F for foreign corporations holding real estate directly
  • 1040NR: For foreign individuals holding real estate; for foreign grantor trusts; and for foreign nongrantor trusts
  • Withholding forms and requirements applicable to different holding structures