Can I claim the input vat on the materials I purchase for the renovation ? Can I claim inpt tax on the purchase ? Do I pay output tax on the sale proceeds ?

Sell and Rent Back

I own some houses in Mexico and rent them out. I keep most of the proceeds from these houses in Mexican banks. when I travel to Mexico I almost exclusively use fund from these accounts.

Do I really have to pay the USA income tax on the whole amount or just what I bring to the USA? Is there any way to exclude this income from US income tax?

If I have to include ALL the income, do I treat the property as if it were in the USA (depreciation, repairs, travel, etc)?

Quick Property Sale