Yes. Greenback specializes in U.S. taxes for Americans with foreign rental property. Whether you have one vacation rental or multiple investment properties, we handle complete Schedule E reporting including currency conversions, expense tracking, depreciation calculations, and proper classification of personal vs. rental use. Our CPAs ensure your rental income is reported correctly and you’re taking advantage of all available deductions—even when no U.S. tax is ultimately owed after foreign tax credits.

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In most cases, yes. If you paid taxes on rental income in the country where your property is located, we help you claim the Foreign Tax Credit on Form 1116 to prevent double taxation. This provides dollar-for-dollar relief against your U.S. tax liability and often eliminates U.S. tax on foreign rental income entirely. We coordinate timing between foreign and U.S. tax payments, maintain proper documentation, and ensure the credit is calculated correctly. Many of our property owner clients pay zero U.S. tax after the Foreign Tax Credit is properly applied.

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Yes. If you’ve realized that foreign rental income or property sales weren’t reported in prior years, we help you address these gaps through the IRS Streamlined Filing Procedures. This program is designed for taxpayers whose noncompliance was non-willful—which applies to many property owners who didn’t realize reporting was required. We prepare three years of amended returns, file six years of delinquent FBARs, and help you certify that your failure to file was not willful. Most property owners who proactively come forward face minimal or zero penalties, especially when foreign tax credits would have eliminated most U.S. tax owed.

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Yes. Property owners routinely hold foreign bank accounts for rental income deposits and property expenses. If the total balance in all your foreign accounts exceeded $10,000 at any point during the year, FBAR filing is required. We help you determine which accounts must be reported, calculate the aggregate threshold correctly, and handle the electronic filing through FinCEN’s system. Our FBAR service starts at $115 for up to 5 accounts and covers preparation and electronic submission. If you’ve fallen behind on FBARs, we can also help you catch up through the Delinquent FBAR Submission Procedures.

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Yes. Selling foreign property requires reporting capital gains on Form 8949 and Schedule D, handling depreciation recapture, applying available exclusions like the Section 121 primary residence exclusion, and coordinating foreign tax credits. We guide you through the entire process including calculating your gain with proper currency conversions, documenting improvements that reduce gain, applying the appropriate capital gains rates, and ensuring the sale is reported correctly to minimize tax liability. Strategic planning before sale can save tens of thousands in taxes.

Learn more about capital gains planning for foreign property

Yes. A pre-purchase consultation can help you understand U.S. tax implications before you commit to buying, including how rental income will be reported and taxed, what FBAR and FATCA requirements apply, whether holding the property through an entity makes sense, how depreciation works and affects eventual sale, and what documentation to maintain from day one. Our consultations start at $250 and provide strategic guidance that can save thousands in taxes over the life of your ownership.

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