Tuesdays With Morey - Tax Tips®

In this episode, Morey and Macarena discuss using international real estate rental income as a deduction on your U.S. taxes. There are many ways your portfolio can be enhanced with international properties, but you need to make sure you do it correctly from the beginning. Contact Glazer Financial to find out how you can make the most of your retirement money!   Key Takeaways: [:54] Planning is important when buying international real estate, even rental property. [1:31] If your annual salary is over a certain limit, you are limited in the amount you can deduct for your real estate taxes. [2:00] Net rental income should be your end goal. [2:29] Foreign assets get you the same tax benefits as if you bought the property in the US. [3:00] If you have a loss of $10,000.00 you can write it off. [3:45] Use an income tax return to project how your international real estate purchase will affect your US income tax. [4:08] How to use net rental income on your taxes even if you have a net rental loss. [5:00] If the Chine