Income tax on rent, worked example, in United States

Taxation Researcher | April 23, 2018

Non-resident couple´s rental income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less - - -
= Taxable Income 18,000 72,000 144,000
Income Tax4
- - -
Annual Income Tax Due - - -
Tax Due as % of Gross Income 0.00% 0.00% 0.00%
Source:
Global Property Guide research

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 US$ = 2,115.00 TZS

3 Estimated values. Income-generating expenses are deductible when calculating taxable income.

4 Rental income earned by nonresident individuals is taxed at a flat rate of 20%.

 

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