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A
Anglis
Level 4
March 15, 2026
Question

Foreign rental home by US resident

  • March 15, 2026
  • 1 reply
  • 2 views

Hello Community,

I have a tax client that moved here from New Zealand, and owns a rental property in that area. We have been reporting the income and property on schedule E. He now tells me that he is moving back to New Zealand and will no longer need my services after 2026. Do I just sell property off and recapture the depreciation as ordinary income? He will be filing a return for 2026, and then moving out of US.

Thank you for feedback,

Angela

1 reply

sjrcpa
sjrcpa
Level 15
March 15, 2026

No sale. No depreciation recapture. Enter sale date = date it stopped being rental. No sales price.

If he's a US citizen or resident alien he needs to continue to file US income tax returns.

The more I know the more I don’t know.
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