Part-1 how to prepare a 1040 non-resident tax return or your US rental properties hi my name is Alan Madden for Madden Chartered Accountant are you a Canadian investor in the u.s. real estate if yes then this video is meant for you I will show you how to prepare a 1040 and our tax return for your US rental property this video is part one of a two-part series in part 1 I will cover form 1040 NR and in part two I'll review Schedule II and form four five six two let's look at the example of mr. Dresden true Pope a Canadian resident who lives in Ottawa Ontario he is married to a Canadian with one dependent child who is 17 years old he is the sole owner of a rental property in Orlando Florida step 1 complete the identification area of form 1040 and our enter your first name last name and identifying number an identifying number is an individual tax identification number issued by the IRS if you do not have one attach form w7 to the 1040 and our return address information check the corresponding box if it is an individual estate or trust step two complete your filing status if you are married and live in Canada or Mexico check box 3 otherwise check box 1 for single resident of Canada or Mexico if married enter your spouse's first name and last name an individual tax identification number if your spouse does not have an ITIN attach form w7 to your 1040 and are returned step 3 claim exemptions enter the total number of exemptions you are claiming you can claim an exemption for yourself your spouse and your dependents in the amount to have four thousand $50 each each person that you...
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Video instructions and help with filling out and completing Form 1040 (Schedule A) vs. Form 1040-nr
Instructions and Help about Form 1040 (Schedule A) vs. Form 1040-nr
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