mrfahrenheit
Feb 24, 2011, 09:53 PM
I'd appreciate it if anyone can answer my question.
I entered US in 2000 with my wife and had two kids since then.
My status has been J-1 -> H1B -> J-1 (since 07/01/2003)
After finishing my training, I got a job in MI and was supposed to start working in Sep, 2010. I bought a house on 4/20/2010 and moved to MI (first time home buyer credit applicable?) I returned my home counry on 8/8/2010 hoping that I could come back in September. However, new visa paperwork has been significantly delayed, and I am still in home country where I am doing part time job only. All of my stuff are in MI. I had stock, some of which were sold in June 2010 and Dec 2010. I suppose I would be an U.S. resident for tax purposes according to the substantial presence test.
My questions are
- Should I file tax return as a dual status or resident ailen. (It seems to be a dual ailen, but all of my stuff including cars, furniture etc in MI and I have no formal job or house in my home country. I live with my parents.)
- If my status is dual status, can I claim first-time home buyer credit? (It says nonresident ailen can not claim it.)
-Can I claim my wife and kids as dependent in form 1040 and put $3650 x 4 in line 42 (Exemption) if I do dual-status tax return? My wife has no U.S.-soruced income.
-I sold some stocks while I was in the US and some others while I was in my home country. If I do dual-status tax return, should I put one in form 1040 and others in form 1040NR, make two different schedule D (Capital gains and losses) for each form and figure out the tax accordingly?
I understand this is very complicated and nobody might not be able to answer these.
I'd really appreciate it if anybody could answer these.
Thank you very much.
Mr. Fahrenheit
I entered US in 2000 with my wife and had two kids since then.
My status has been J-1 -> H1B -> J-1 (since 07/01/2003)
After finishing my training, I got a job in MI and was supposed to start working in Sep, 2010. I bought a house on 4/20/2010 and moved to MI (first time home buyer credit applicable?) I returned my home counry on 8/8/2010 hoping that I could come back in September. However, new visa paperwork has been significantly delayed, and I am still in home country where I am doing part time job only. All of my stuff are in MI. I had stock, some of which were sold in June 2010 and Dec 2010. I suppose I would be an U.S. resident for tax purposes according to the substantial presence test.
My questions are
- Should I file tax return as a dual status or resident ailen. (It seems to be a dual ailen, but all of my stuff including cars, furniture etc in MI and I have no formal job or house in my home country. I live with my parents.)
- If my status is dual status, can I claim first-time home buyer credit? (It says nonresident ailen can not claim it.)
-Can I claim my wife and kids as dependent in form 1040 and put $3650 x 4 in line 42 (Exemption) if I do dual-status tax return? My wife has no U.S.-soruced income.
-I sold some stocks while I was in the US and some others while I was in my home country. If I do dual-status tax return, should I put one in form 1040 and others in form 1040NR, make two different schedule D (Capital gains and losses) for each form and figure out the tax accordingly?
I understand this is very complicated and nobody might not be able to answer these.
I'd really appreciate it if anybody could answer these.
Thank you very much.
Mr. Fahrenheit