JOEPCPA
Level 3
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He owns the property through his S Corp. Is that correct and isn't that just a waste of time? I pay the tax with 4708 but then get refund on IT 1040? 

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TAXOH
Level 11
Level 11
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If it's an individual taxpayer I don't believe you would file form 4780 and would just file IT 1040 for a non resident.   

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JOEPCPA
Level 3
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Thanks, sorry I did forget to mention he owns the property through his S Corp so the 4708 is necessary.
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TAXOH
Level 11
Level 11
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Oh, okay.  Then I think that is correct and yes it is a waste of time.
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JOEPCPA
Level 3
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Thanks much!!
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TAXOH
Level 11
Level 11
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You're welcome.
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