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CHECKLIST · RENTAL INCOME (U.S.)

Rental income checklist (U.S.)

For owners of rental property in the United States, whether you live in Canada or the U.S. Your rent and expenses for the year, for your U.S. return (and your Canadian return, if you live in Canada).

How it works

  1. Fill in your details.
  2. Add each rental property, its rent and its expenses for the year. Totals add up as you type.
  3. Save the page as a PDF and email it to info@blueocean.tax with your documents.

Rental income checklist (U.S.)

About you

Don't have one? We can help you apply for an ITIN.

Rental properties

One entry for each property you rent out. Amounts in U.S. dollars.

Property 1
From your property tax assessment, if you know it

Rent and expenses for the year (whole property, in U.S. dollars)

Total expenses$0.00
Net rental income (before depreciation)$0.00
Your share$0.00

Not included above

New roof, appliances, renovations
From Form 1042-S

Your totals

Totals add up as you type.

Income, all properties$0.00
Expenses claimed, all properties$0.00
Net rental income, all properties$0.00
Your share, all properties$0.00

Documents to send us

Tick each document you have and include it with this checklist.

Good to know

  • Canadian residents report U.S. rental income on both their U.S. and Canadian returns. U.S. tax paid is generally credited on the Canadian return, so you aren't taxed twice.
  • Non-residents of the U.S. are taxed at 30% of gross rent unless they choose to be taxed on net rental income after expenses. That choice means filing a Form 1040-NR every year.
  • We claim depreciation on the building for you. That's why we ask for the purchase price and the value of the land.

Need your full U.S. return too? See the Personal (US) or Personal (US-NR) checklist.

Anything else?

* Required

When you're done: save this page as a PDF and email it to info@blueocean.tax as an attachment. Thank you.

"Save as PDF" opens your browser's print window. Choose "Save as PDF" as the printer. Nothing on this page is sent anywhere until you email it.

Questions while you fill it in? Call us.

info@blueocean.tax

Free Consultation 416-828-7462