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U.S. source income for borrowed music scores
February 1, 2023
Q. Our organization in the U.S. is renting music scores from an international vendor. They are mailing us the music scores for our orchestra's temporary use, but then we have to mail the music scores back. Would this be U.S. source income subject to 1042 taxes unless the vendor properly claims a tax treaty? Per Publication 515, for rental payments it says the income is sourced to where the property is located. Note, all rights to the property remain with the international vendor.
A.
(Answered…
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