The final step in the process is the filing of the Federal 1040NR and Arizona 140-NR tax returns. These returns calculate any gain on the property, then determine how much of it is taxable. A return must be filed, even if there is no gain. We take great care to ensure that we include every possible deduction to minimize your taxable gain. Tax filings are done on an individual basis, so if ownership includes a husband and wife or multiple owners, a tax return must be filed for each foreign individual on the title.