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cdacsumit · Dec 27, 2009, 11:49 PM

Hi,

I (having SSN) entered US first time on H1 Visa with my non working wife (without SSN, having ITIN) on H4 Visa in March 2008. We also had a new born baby (having SSN), born in Aug-2008 in US. I left US on 5th June 2009. Following are my queries:

1) What will be my residential status: resident alien or dual, as this is my second/ last year in US?
2) How different is filling as a dual citizen? Do I need to include my Indian income from June-Dec 2009? If yes, am I reqd. to pay icome tax twice: US and India, on the same income?
3) I have filled income tax last year. Am I entitled for recovery rebate credit?
4) With this information, can I e-file?

Regards,
Sumit

AtlantaTaxExpert · Dec 28, 2009, 10:21 AM

1 & 2) For BOTH 2008 and 2009, you can file as resident aliens.

With the 2008 return, you need to submit a statement signed by both you and your wife that states you both choose to be treated as resident aliens for all of 2008.

On both returns, you must report ALL world-wide income and submit Form 1116 to claim the Foreign Tax Credit for income taxes paid to India.

3) Maybe.

4) For 2008, no. For 2009, maybe.

cdacsumit · Dec 31, 2009, 01:58 AM

Hi,

I have filled income tax in 2008 in US, and haven't received RRC, as my wife was having ITIN and baby having SSN.
a) May I be entitled for RRC this year?
b) If I am including my Indian income from June-09 to Dec-09, then will I be reqd to pay income tx for that too in US? What about the tax paid on that income in India. In India, my status is resident and not NRI.

Regards,
Sumit

AtlantaTaxExpert · Dec 31, 2009, 10:05 AM

a) No; the RRC was for 2008 only.

b) You will file Form 1116 to claim the Foreign Tax Credit to avoid the double taxation on your India-sourced income.

cdacsumit · Jan 30, 2010, 09:29 AM

Originally Posted by AtlantaTaxExpert

a) No; the RRC was for 2008 only.

b) You will file Form 1116 to claim the Foreign Tax Credit to avoid the double taxation on your India-sourced income.

Hi,

1) I booked an under construction apartment in India for 42 Lacs INR. Possession: After 3 years. Advance: 9.4 Lacs INR.
Am I entitled for any rebate?

2) I don't have my US address. Can I provide my friend's address?

3) Incurred equity losses in India, by selling equities. Can I consider those loses here?

Regards,
Sumit

AtlantaTaxExpert · Feb 25, 2010, 01:30 PM

Sumit:

This is an Indian tax question; this forum addresses U.S. income taxes.

Search for forum for answers by MukatA; he has a link for an Indian tax forum.