US Citizen with property in the Caribbean

[Lianne160]

I am a US citizen with property in the Caribbean. The property was left to me after the passing of a relative. After many years of having the property remain unoccupied. I visited and completely renewed the interior of the home and painted and did some minor improvements on the exterior. My question is what is the best way to file this property for the current tax season. The unit generates less than $10k/annually with 7 or less days per reservation. The property is maintained and cared for by my 2 cousins who I have employed as the grounds attendant(he does all the external upkeep and repairs) and the other performs cleaning and interior upkeep. I need to figure out the best way to report this to the IRS. Do I use Schedule C or E? And what tax write offs can I put in. Just an fyi I don't have any mortgage for the property, I spent out of pocket over 6k to get the place up to desirable standards. Thanks for any help anyone provides.

[Helen3]

Presumably you have kept a record of all your expenses and income. I would share this with an accountant with experience of any dual taxation system for the US and the country in the Caribbean you are hosting in who can advise you on how best to file your taxes @Lianne160 

[Mike-And-Jane0]

@Lianne160 I would worry equally about how to file taxes in the Caribbean. Presumably they will want their taxes well?

[Lianne160]

The Caribbean is taken care of already. That's why I am asking only for the US side of things. I keep well organized and detailed records.