Does FIRPTA apply to my rental income, or only when I sell the property?
I own a rental property in Atlanta through my foreign-owned LLC. I've been collecting rent for 3 years. Nobody has mentioned FIRPTA for the rental income, only when I eventually sell. But a friend told me I need to be careful because rental income from U.S. real property might also fall under FIRPTA rules. Is that true? I've been filing tax returns for the rental income, but now I'm worried I might be missing something.
I'm a citizen of Ghana and non-resident alien.
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