Income tax on rent, worked example, in United States
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| Non-resident couple's rental income1 | |||
| Monthly Rental Income2 | 1,500 | 6,000 | 12,000 |
| Annual Rental Income | 18,000 | 72,000 | 144,000 |
| Less | - | - | - |
| = Taxable Income | 18,000 | 72,000 | 144,000 |
| Income Tax4 | |||
| - | - | - | |
| Annual Income Tax Due | - | - | - |
| Tax Due as % of Gross Income | 0.00% | 0.00% | 0.00% |
| Source: Global Property Guide research |
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 2,115.00 TZS
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is taxed at a flat rate of 20%.
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