I am a citizen of the United States. My family and I have a home in Kingston Jamaica (I am not a resident, but my father is) that we host when we're not visiting. Do I report my income and expenses on my tax return for 2018
This post is a little incomplete with details but, if you are a US citizen and own a property (or any other income producing asset), you are required by law to report the income. Taxes paid to foriegn governments are deductable as are expense including depreciation.
You really should not be asking here on ABnB but consulting your tax professional.
Hi Sharon, yes! You should report the earnings and also expenses from Jamaican property. We are currently in a similar circumstance.