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Old 03-10-2019, 03:49 PM
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Naturalized US citizen declaring immovable property purchase in origin home

Hi All,
Wanted to know if Naturalized U S citizen has to declare the purchase of an immovable property (built house) purchased in his/her homeland (origin homeland. e.g, India). If so, what form needs to be added to the US Tax returns.

Thanks



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Old 03-11-2019, 06:54 AM
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no need to declare the purchase of an immovable property (built house) purchased in his/her homeland Unless the foreign property is usually held in an offshore trust or foreign corpo and your shares in entity must be reported on Form 8938 and elsewhere
:however, if there is rent income from the pty overseas then, you need to report the inome on sch e of 1040.



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Old 03-16-2019, 07:19 PM
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Thanks Wnhough for your reply. Apologize for the late reply. Have a follow-up question. If the house was rented for 2 of years in the past (maybe 2-3 years back) and did not report in US tax returns, Is there a way to report in USA tax returns along with the 2018 returns?

Thanks In Advance
sunilcs



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