One of my kids lives in the US and will be coming back in about 3 years if everything goes to plan. I was suggesting that they should look at buying a place and letting it until they return.
Just wondering what the tax liability would be on say a property let @ €1500 so €18k p.a. less I think 80% of the interest (c.€8k), less say €3k of other costs.
So I'm thinking that would be €18k - €9.4k @ what rate of tax (all taxes), would it be US tax or Irish tax?
Any advice much appreciated,
Roy
Just wondering what the tax liability would be on say a property let @ €1500 so €18k p.a. less I think 80% of the interest (c.€8k), less say €3k of other costs.
So I'm thinking that would be €18k - €9.4k @ what rate of tax (all taxes), would it be US tax or Irish tax?
Any advice much appreciated,
Roy