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  1. This is more a LEGAL question than a tax...

    This is more a LEGAL question than a tax question, so I suggest you post this question in the LAW portion of AskMeHelpDesk.
  2. Answers
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    253

    Yes, you can file jointly by applying for an ITIN...

    Yes, you can file jointly by applying for an ITIN for your wife, even if she is NOT in the U.S.

    This can be a bit tricky, but it is certainly doable. I have done it for multiple clients over the...
  3. Glad to help!

    Glad to help!
  4. I think it is possible, but I am curious how the...

    I think it is possible, but I am curious how the IRA has BOTH pre-tax and post-tax contributions.

    You might be confusing pre-tax / post-tax with deductible and non-deductible contributions.

    In...
  5. NO state in the United States has such...

    NO state in the United States has such guidelines.

    If you LIVE in the state, you must declare ALL world-wide income and pay taxes on that income.
  6. Having lived OUTSIDE of California for TWO years,...

    Having lived OUTSIDE of California for TWO years, she can legitimately say she has changed domicile away from California.

    For this reason, California has lost legal standing to tax her income...
  7. IRS Form 709 is the form for a Gift Tax Return. ...

    IRS Form 709 is the form for a Gift Tax Return.

    It seems clear to me that you are NOT a tax professional with experience filing gift tax returns.

    I have a very simple solution for you.

    File...
  8. DanPatrick, If the scholarship listed on the...

    DanPatrick,

    If the scholarship listed on the Form 1098-T are veteran or G.I. Bill benefits, then they are tax free and thus NO amendment is required.

    However, for virtually any other...
  9. Then a gift tax return will be needed. No TAX...

    Then a gift tax return will be needed.

    No TAX will be due because the Unified Credit will cover any potential tax.

    Had you paid the medical bills directly to the doctor or hospital, the $27K...
  10. It would have been better if you paid the medical...

    It would have been better if you paid the medical bills directly, but you can designate half the money to your father and half the money to your mother, which puts the gift well BELOW the annual gift...
  11. Answers
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    575

    Required Minimum Distributions were suspended for...

    Required Minimum Distributions were suspended for 2020, so do not worry about it.
  12. Question: ira rmd

    by AtlantaTaxExpert
    Answers
    3
    Views
    503

    Glad to Help

    Glad to Help
  13. Question: ira rmd

    by AtlantaTaxExpert
    Answers
    3
    Views
    503

    Richard, The pension or IRA custodian who...

    Richard,

    The pension or IRA custodian who distributed the RMD will have generated Form 1099-R.

    That Form 1099-R was sent to the IRS and you should have gotten a copy as well.

    If you did...
  14. Answers
    1
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    499

    Simona, HOW the pay is processed does not...

    Simona,

    HOW the pay is processed does not change your G-1 visa status nor your tax-exempt status.

    You just need to be sure that the contractor is ware of this so they do not withholding taxes...
  15. Answers
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    571

    Yes, use Form W-8BEN and, yes, report the pension...

    Yes, use Form W-8BEN and, yes, report the pension withdrawal on the Form 1040NR portion of the dual-status return.

    NOTE: Do NOT do the dual-status return by yourself. This return is very complex...
  16. Anurav, Yes, any capital gains from the sale...

    Anurav,

    Yes, any capital gains from the sale of the Singapore mutual funds needs to be reported on your U.S. tax return on Schedule D.

    Further, the Singapore mutual funds are considered to be a...
  17. Answers
    1
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    545

    As a G-4 visa holder, you DO have to file as a...

    As a G-4 visa holder, you DO have to file as a non-resident, filing Form 1040NR, but you need report ONLY the income that is U.S.-sourced.

    This means the rental income from the UK, the capital...
  18. Answers
    1
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    519

    The answer is YES. Both U.S. citizens and U.S....

    The answer is YES.

    Both U.S. citizens and U.S. residents, i.e., green card holders. must declare ALL world-wide income.

    This requirement applies whether you live in the U.S. or overseas.
    ...
  19. You should talk to the 401K custodian to...

    You should talk to the 401K custodian to determine if they will take back the matching funds from the employer because your initial donation exceeded the 19.5K limit.

    If that is in fact the case,...
  20. Answers
    5
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    3,554

    Glad to help!

    Glad to help!
  21. Answers
    5
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    3,554

    Yes, you have the option to file as a resident...

    Yes, you have the option to file as a resident for a full year. You can also choose to be treated as a dual-status alien and file a dual-status return. The return needs to be modeled both ways to...
  22. You should file an amendment to identify the $250...

    You should file an amendment to identify the $250 in consulting income on Schedule C.

    While doing this amendment, identify the rollover.

    If you want professional help to amend, contact me at...
  23. Glad to help!

    Glad to help!
  24. You have in fact established residency in...

    You have in fact established residency in Missouri, but you are only a part-year resident.

    When you file your 2020 return, you will need to file as a part-year resident of Missouri and whichever...
  25. Answers
    1
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    915

    Kritvarma, Do not over-react. Remember...

    Kritvarma,

    Do not over-react.

    Remember that the IRS issued the Economic Stimulus payments, and they know what you got.

    So let them review the return and make any needed corrections before...
  26. Answers
    5
    Views
    1,153

    Glad to help!

    Glad to help!
  27. Answers
    5
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    1,153

    To get TaxAct to generate the Schedule D and Form...

    To get TaxAct to generate the Schedule D and Form 8949, you need to enter the stock and mutual fund SALES using Form 1099-B.
  28. Answers
    2
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    1,312

    For 2020, you are a resident alien because of the...

    For 2020, you are a resident alien because of the Substantial Presence Test (SPT).

    For 2021, you will be a non-resident alien because you are no longer subject to SPT.

    You will report ALL...
  29. Answers
    3
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    1,060

    Glad to help

    Glad to help
  30. Answers
    5
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    1,153

    Was there any stock trading?

    Was there any stock trading?
  31. Glad to help!

    Glad to help!
  32. Answers
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    1,060

    Contact the HSA custodian and arrange to have the...

    Contact the HSA custodian and arrange to have the excess contributions withdrawn.

    This may have to be done through the payroll or HR department of your company.
  33. It does not matter the order in which they are...

    It does not matter the order in which they are filed.

    If mailed, send a copy of the other state return with each submission; it answers a lot a questions before they can be asked.

    Equally...
  34. Answers
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    To my knowledge, there is NO "IRS Form 709 for...

    To my knowledge, there is NO "IRS Form 709 for Idiots"

    However, I will prepare the Form 709 for $200, which is less than HALF as much as the CPA firm wants to charge.

    If interested, email me at...
  35. Answers
    3
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    1,005

    All good points

    All good points
  36. Answers
    10
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    1,306

    Glad to help!

    Glad to help!
  37. Answers
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    1,306

    Then the answer is NO. To claim your children as...

    Then the answer is NO. To claim your children as dependents on the Form 1040NR, they must be physically present in the United States during the year of the tax return.
  38. Answers
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    The answer to your question is you CAN claim your...

    The answer to your question is you CAN claim your children as dependents.

    The actual issue is WHY are you filing dual-status??

    Presumably, you have returned to India and are filing for the...
  39. Answers
    3
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    1,005

    There are a variety of issues in this situation...

    There are a variety of issues in this situation that dictate that you need to get a local estate tax expert involved.

    From MY point of view, I consider the $40K transfers to be distributions...
  40. Answers
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    1,306

    No. Since the 401K or IRA distribution was...

    No.

    Since the 401K or IRA distribution was tax-deferred when you filed your return and deducted the contributions off your tax returns way back when, the transfer will be taxed using progressive...
  41. Answers
    10
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    1,306

    On such a conversion, you will have to pay taxes...

    On such a conversion, you will have to pay taxes on the value of the IRA with NO deductions at all (since NRAs do NOT get the claim the standard deduction).

    Will you be returning to the United...
  42. Answers
    2
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    1,124

    Trishala, I am sorry, but this sounds like a...

    Trishala,

    I am sorry, but this sounds like a homework question, and this forum does NOT a matter of policy answer homework questions.

    ATE
  43. Answers
    7
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    1,277

    Glad to help!

    Glad to help!
  44. Answers
    7
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    1,277

    Yes, that is correct.

    Yes, that is correct.
  45. Answers
    7
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    1,277

    Then you report nothing on your 2020 return and...

    Then you report nothing on your 2020 return and address it on the 2021 return.
  46. Answers
    7
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    1,277

    Was the withdrawal physically done in 2020 or...

    Was the withdrawal physically done in 2020 or 2021?
  47. Answers
    3
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    1,088

    Glad to help!

    Glad to help!
  48. Answers
    3
    Views
    1,088

    Yes, a Form 1040NR would normally submitted as a...

    Yes, a Form 1040NR would normally submitted as a Dual-Status Statement.

    However, what you filed was a EXPATRIATE dual-status return, which means the Form 1040NR is the Dual-Status return and the...
  49. For the W-2, you need to enter the max amount as...

    For the W-2, you need to enter the max amount as specified in the instructions and the capped amount of $137K. Also enter the amount withheld based on $137K.

    Then amend the employer tax returns...
  50. Generally speaking, you can pay up to $1,000 when...

    Generally speaking, you can pay up to $1,000 when filing your taxes without paying any penalties or interest.

    It can even be higher under certain circumstances, but the IRS has used the $1,000...
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