Returning back to India - Rent my house in US while in India.

[kbaradu]

Hello All,

I am planning on returning back to India in the next couple of months. I am currently on H1B and have a house here in US. As we know the housing market is really bad now and do not wish to sell it.

My question is, if I relocate to India will I still be able to have the house here and give it out for rent? Is there any legal issue of owning a house in US while I am in India? Since I am on H1, if I relocate then technically I will not be a resident in US.

If I am able to rent it then I would have to file taxes but my SSN may not be valid once I relocate.

If anybody has any expererience on this I would like to get more information.

Regards,

kbaradu.

 

[AGC4ME]

Why is your SSN not valid ? A SSN is for life. if you relocate to India on H1B you attain the status of NRA (Non-Resident Alien). You can rent the house. You'll have to file taxes as NRA (1040NR) on this income. You'll also have to pay tax to Govt. of India on this income. You may want to look at Double Taxation Avoidance Agreement between US and India. Also a better forum for such questions would not be here. Try posting your question at
http://www.r2iclubforums.com/clubvb/forumdisplay.php?f=87