SERVICES • TAX & LEGAL
Every nonresident investor needs to file the 1040NR in order to report all US income they’ve acquired during the year.
1040NR: Nonresidet Alien Income Tax
Every nonresident that invests in real estate and receives any sort of income in the US (including rental income) has to file the 1040NR come taxing season. The 1040NR is the nonresident version of the standard 1040 form that every American citizen must file annually.
What Is the 1040NR?
1040NR is a version of the standard 1040 form the IRS issued for US citizens. Just like its regular counterpart, the 1040NR form serves as a report to the IRS regarding any and all income profits or losses that you’ve had throughout the year.
Due on April 15th, 1040NR is a vital form that you’ll have to fill out no matter what. It’s the cornerstone of your entire tax filing process. This form is so important that even the deceased aren’t released from the obligation to file it. In the event of a person’s death, their heirs must file the 1040 form for the previous year.
Who Needs the 1040NR?
Just like the regular 1040 form, the 1040NR has a singular purpose — to show the state how much income in the States a person received. Keep in mind that even if you had no income, you still have to file the 1040NR.
All nonresident aliens who have a business in the US and are making any kind of profits on US soil — rental income included — have to file taxes at the end of the taxing period.
How the Nonresident Investor Team Can Help
Properly filing the 1040NR is especially important if you plan on returning to the US during the course of the following year. If you’ve entered the US on a visa, you mustn’t be late with your tax forms because that might impede your visa efforts.
With the Nonresident Investor team and our expert CPA, who specializes in working with foreign investors, you’ll be in excellent hands.
Filing the 1040NR form is an essential service that the Nonresident Investor offers, and our system is not only reliable but also straightforward. We’ll help you fill and file your forms and show you the best tax planning tricks!
Our services were created to assist investors in navigating the complex real estate market, covering everything from LLC formation to property management based on years of experience in the industry.