USIP ACCOUNTING / Other Services
FIRPTA: foreign sellers of U.S. real estate
Form 1040-NR after a non-resident sells U.S. property, claiming FIRPTA withholding credits and refunds, plus ITIN support.
01 / WHO IT IS FOR
Who this is for
Foreign individuals or families (non-resident aliens) selling U.S. property, and sellers who need an ITIN to recover withholding.
02 / WHAT’S INCLUDED
What’s included
- Preparing and filing Form 1040-NR.
- Calculating gain and tax: purchase cost, capital improvements and selling expenses.
- Claiming eligible FIRPTA withholding credits and refunds.
- ITIN applications, including stand-alone Exception 4 applications when eligible.
- If the property was rented: depreciation and prior-year filings evaluated.
03 / PROCESS
How it works
- 01
Discuss the sale
Sale date, price, withholding and rental history.
- 02
ITIN
If needed, evaluate Exception 4 or apply with the return.
- 03
Compile cost basis
Compile purchase costs and improvement receipts.
- 04
Prepare 1040-NR
Calculate gain and credits and review with you.
- 05
File and follow up
File and follow up on the withholding refund.
04 / DOCUMENT CHECKLIST
What to prepare
- Passport and ITIN (if any)
- Purchase and sale closing statements
- FIRPTA withholding statements (e.g., Form 8288-A)
- Title, legal and recording costs at purchase
- Receipts for additions, remodels, roofing, HVAC and other capital improvements
- If rented: rent, expenses and prior returns
Prepare only what applies to you. Share SSNs, IDs and bank details through the agreed secure method, not in a first email.
FAQ
Frequently asked questions
Can I get back the tax withheld at closing?
Eligible withholding is claimed on the annual 1040-NR, and any excess can be refunded.
Must I wait for the annual return to get an ITIN?
If you qualify for the FIRPTA exception (Exception 4) you can apply separately; eligibility is reviewed first.
Scope notes
Multiple income sources, depreciation or several sales are evaluated separately; refund timing is up to the IRS.
Website content is general educational information, not tax, legal or investment advice for your situation.
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General educational information only; not tax, legal or investment advice. Service scope and engagement arrangements are confirmed directly with the firm. Information on this website does not replace advice tailored to your circumstances.