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Updated about 6 years ago,
F-1 OPT Student Taxes for House Hack
Good Morning All,
My wife and I have finally purchased our first duplex and moved into one of the units.
I am currently in the process of obtaining a green card, as my wife petitioned for me. In the meantime, I am still on my F-1 visa under OPT. I am 99% sure that I am allowed to receive rental income as well as capital gains, regardless of my employment status limitations. What I do not know is if I am allowed to "operate a rental business." I am planning on doing a segregated depreciation study as well as filing for business expenses such as the office, internet, and repairs. My wife and I will most likely be filing jointly.
I guess my questions are the following:
- I have been having a hard time finding a CPA who would have experience in dealing with this and would work with such a small portfolio. Does anyone know of either a web-based firm or one in the West Texas area?
- Am I allowed to take these deductions considering my status, and would I need any type of entity to do so?
Thanks in advance!