Rental property... assets or business???

Madison85
Sun, 30 Jun 2019 01:49:47 +0000

Are your parents U.S. citizens? Why isn’t the income from the U.K. and/or Ireland rental properties included on your parents’ U.S. tax returns?

U.S. citizens are taxed on worldwide income.

According to the IRS, not reporting income from foreign sources may be a crime.