Concord California Form 8689 2024-2025

Concord California Form 8689: What You Should Know

The TOT is a tax in the amount of ten percent of the rent in any private hotel room in the U.S. Virgin Islands. Allocation of Individual Income Tax to the U.S. (a) In general.—The U.S. Virgin Islands Division of Internal Revenue has jurisdiction in determining the income and withholding of any tax imposed under this section, and such Division shall include in calculating the amount of income to be reported by a resident alien for purposes of the U.S. Virgin Islands TOT the rental income paid to and received by the resident alien in the United States by way of rent in an amount equal to or greater than 250. With respect to a nonresident alien, the amount of such income in excess of such amount may be allocated to the U.S. Virgin Islands for the purposes of this section. (b) Allocation of resident alien individual income from nonresident sources to U.S. Virgin Islands.—In a case in which the resident, other than a resident alien or nonresident alien, is entitled to a credit pursuant to section 3542, and the resident does not have a U.S. residential address, the amount of the resident alien's rental income from nonresident sources from sources within the U.S. Virgin Islands in excess of 250 shall be allocated according to the applicable rules of subsection (b) of this section, including the allocation of any income from sources outside the U.S. Virgin Islands. Allocation of resident alien individual income from U.S. sources to U.S. Virgin Islands.—In a case in which the resident, other than a resident alien or nonresident alien, is entitled to a credit pursuant to section 3542 and the resident does not have a U.S. residential address, the amount of the resident alien's rental income from sources within the United States in excess of 250 shall be allocated according to the applicable rules of subsection (b) of this section, including the allocation of any income from sources outside the United States. If a nonresident alien is not entitled to any credits pursuant to section 3543, no amount will be allocated to the U.S. Virgin Islands and no tax will be owed to the Virgin Islands Division of Internal Revenue unless the resident alien actually makes payment of the credit allowed by section 3543. The amount of this payment shall be made on an advance basis. (d) Determination of rental income.

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