rental income reporting question

Forum|Forum|3 years ago
February 1, 2023
2 replies
0 views

Hi,

I am a new immigrant and just came to USA in November 2022. I got my greencard and social security card in November 2022 as well. I only had rental income whole year in 2022. I am not sure if I need to report the whole rental income on 2022 Form 1040 or just report November - December rental income on 2022 Form 1040 because I am not US resident from January - October 2022.

I read something on IRS website about green card test and presence test, but I am not sure about it very well.

Can someone please advise me how to do? Thank you!

DaveF1006

You do not meet the requirements to be a resident alien for 2022. If your rental income is earned in another country, you won't be required to file a US tax return. However, if your rental is in the US, you will be required to file a 1040 NR return reporting the income.

If this is the case, Turbo Tax does not file 1040 Non-Resident returns but our affiliate Sprint tax does. Contact Sprintax for further information.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Sdy2023Author

Thanks Dave for your quick response.

Since now I become US Resident, I have foreign assets more than the threshold required to report, I think I will need to file FBAR and FORM 8938, is that mean I need to file form 8938 on 2022 1040NR as well?

DaveF1006

According to the IRS, you file a 8938 if you are:

A U.S. citizen
A resident alien of the United States for any part of the tax year (see Publication 519 for more information)
A nonresident alien who makes an election to be treated as resident alien for purposes of filing a joint income tax return
A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico (See Publication 570 for definition of a bona fide resident)

If you do not fall in any of those categories, you do not need to file the 8938 for 2022.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

AmeliesUncle

The short answer is that you really should go to a local tax professional that specialized in Nonresident Aliens.

TurboTax is NOT set up property for a Dual Status Alien like yourself. For this year, you really should go to a good tax professional that specializes in Nonresident Aliens. In future years, you may consider doing your tax returns with a Do-It-Yourself program like TurboTax, but I strongly advise against that for 2022.