Quarterly Rental Tax Return

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rosiflower
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Re: Quarterly Rental Tax Return

Postby rosiflower » Sun Apr 05, 2020 2:22 pm

Elusive - thanks for clarifying. Wanted to be sure before submitting. :thumbup:

Ericsbcn - As far as I understand, it won't be like retaining 76% of the rental income as we will no longer be able to make deductions ie. cleaning, laundry, proportion of community free, electricity etc. It will be on the gross rental income so before any deductions.

Please correct me if I'm wrong. Just thinking about what to do next year. :|

elusive
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Location: East of Malaga

Re: Quarterly Rental Tax Return

Postby elusive » Sun Apr 05, 2020 7:06 pm

Rent it out longterm.theres a major of lack of property for people to live in.

ericsbcn
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Re: Quarterly Rental Tax Return

Postby ericsbcn » Sun Apr 05, 2020 11:33 pm

rosiflower wrote:
Ericsbcn - As far as I understand, it won't be like retaining 76% of the rental income as we will no longer be able to make deductions ie. cleaning, laundry, proportion of community free, electricity etc. It will be on the gross rental income so before any deductions.
I understand. We're actually in that situation already. We have a place in Spain that we rent out for part of the year. But since we're from the US, we don't get the deductions and have always paid the 24% tax rate.

My point was, no matter how much you pay in taxes, you'll still be left with some income. And some income is better that no income.

- Eric

ManilvaMark
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Re: Quarterly Rental Tax Return

Postby ManilvaMark » Thu Sep 02, 2021 10:53 am

Hi everyone,

First time poster, thanks for adding me to the group. I am planning on doing my Q3 rental income tax return myself this time having previously just been brave enough to submit the Modelo 210 return for my annual non residents tax.

Just wondering if a previous post from @ericsbcn (below) from 2019 is still valid regards the only fundamental differences when it comes to actually filling out the form online?

"For rental income
use Grouping
accrual date blank
type 01
file quarterly - first 20 days after the end of the quarter (1 - 15 for Internet payments)"

I have always used the CAB Spain excellent 'idiots guide' to help me navigate the online Modelo 210 submission, but in there it indicates that the 'Grouping' box should remain unticked for both imputed income and rental income, so would be extremely grateful for any recent experiences/clarification on this or any other aspect of the form. Thank you.

ericsbcn
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Re: Quarterly Rental Tax Return

Postby ericsbcn » Thu Sep 09, 2021 3:41 pm

I have always ticked the 'Grouping' box when submitting the form for rental income. I can't remember where I learned to do that. I just re-read the instructions for the form and now it's not clear to me whether I should or not. The English instructions say this: "Several different incomes earned by the same taxpayer may be grouped together provided they correspond to the same income type code, come from the same payer and are subject to the same tax rate". Maybe because our rent is paid to us monthly and it's three months worth that we are declaring on the form...?

I just searched through the "Comments and queries re FAQ for Non-resident income tax" thread and found where I originally asked about it in 2014. Beachcomer (who I believe is the expert on matters related to Form 210) answered that my assumption about grouping was correct. I've had no problem submitting the forms that way since 2014, so I think I'm going to stick with that.


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