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  1. Answers
    3
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    32

    You have it exactly right. One note: do NOT...

    You have it exactly right.

    One note: do NOT try to file a dual-status return yourself, as it is NOT a return for amateurs.

    In fact, if you decide to do the dual-status return, be careful about...
  2. Answers
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    32

    You have a choice. You can file as an...

    You have a choice.

    You can file as an expatriate dual-status, which allows you to declare ONLY the U.S.-sourced income you earned before returning to India. However, you CANNOT claim the $24,400...
  3. Your friend is full of it. I have dealt with...

    Your friend is full of it.

    I have dealt with HSAs for the past ten years and, to my knowledge, not ONE IRS audit has resulted from using of an HSA.

    The only time there is an IRS audit is if...
  4. Glad to help!

    Glad to help!
  5. If you have entered all of the stock transactions...

    If you have entered all of the stock transactions manually and (hopefully) properly adjusted the cost basis using Code B on the Form 8949, then all of the information on the summary statement has...
  6. Unfortunately, submitting tax transaction summary...

    Unfortunately, submitting tax transaction summary using IRS Form 8453 is an all-or-nothing affair. You either submit the stock transaction summary with the Form 8453, or you manually enter each...
  7. You need to determine what income earned overseas...

    You need to determine what income earned overseas is subject to U.S. taxes, and what is not. Look at the tax treaty if there is one.

    Then what you earned as wages is entered on Line #7 of the...
  8. U.S. citizens who have resided outside of the...

    U.S. citizens who have resided outside of the United States are STILL required to file an annual U.S. tax return and they can claim the same deduction as any living inside the United States.
    ...
  9. Answers
    3
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    2,875

    She will have to file SINGLE; qualified widow...

    She will have to file SINGLE; qualified widow only applies if there are children.

    No requirement to file the California return, but the FBAR is STILL required even if she does not file the federal...
  10. Answers
    1
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    2,136

    Yes, tax returns WILL still be required for 2019...

    Yes, tax returns WILL still be required for 2019 and 2020.

    It takes 2 - 4 weeks for the surrender date to be shared with the IRS.
  11. Answers
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    2,252

    Glad to help!

    Glad to help!
  12. Answers
    5
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    2,252

    Mohan, The green card holder has to file even...

    Mohan,

    The green card holder has to file even if they are never in the United States for the calendar year. The filing requirement remains until they surrender the green card.

    Yes, the dad can...
  13. Answers
    5
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    2,252

    In order: 1) Yes. A resident of the United...

    In order:

    1) Yes. A resident of the United States is REQUIRED to report ALL world-wide income for the entire calendar year. If he/she paid taxes to another country on some of that income,...
  14. Answers
    3
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    2,875

    Yes, she DOES have to file a tax return. Under...

    Yes, she DOES have to file a tax return. Under the "green card test", she must file as a resident alien (Form 1040 or Form 1040-SR) and report ALL world-wide income on her return.

    Yes, she DOES...
  15. Answers
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    3,210

    Glad to help!

    Glad to help!
  16. Benno, The graduated rates apply; I do these...

    Benno,

    The graduated rates apply; I do these type of returns all of the time, and I know when the 30% flat rate applies and when the graduated rates apply.

    For you, the graduated rates apply...
  17. Answers
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    3,210

    Use the 21 October 2019 date

    Use the 21 October 2019 date
  18. Answers
    1
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    2,262

    A legal marriage ANYWHERE in the world is...

    A legal marriage ANYWHERE in the world is recognized by the IRS.

    Now, to file jointly, your husband has to get an Individual Tax Identification Number (ITIN), and that can be tricky from Costa...
  19. Answers
    5
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    3,210

    If I were preparing the Form 8854, I would hold...

    If I were preparing the Form 8854, I would hold that the green card was abandoned for processing upon receipt by the USCIS. If have definite proof of this fact.
  20. Answers
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    3,194

    You can file jointly with your wife, because her...

    You can file jointly with your wife, because her physical presence is NOT required to file a joint return. She just has to SIGN the actual return.

    Unfortunately, you CANNOT claim any of the...
  21. Answers
    13
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    8,753

    Probably 15%

    Probably 15%
  22. Answers
    13
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    8,753

    Dependent on your overall income profile.

    Dependent on your overall income profile.
  23. Answers
    13
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    8,753

    Not unless you received the interest over a...

    Not unless you received the interest over a three-year period.
  24. Answers
    13
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    8,753

    Then, without a doubt, long-term capital gains is...

    Then, without a doubt, long-term capital gains is the best tax option.
  25. Answers
    13
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    8,753

    Form W-9 to send him the demographics. Form...

    Form W-9 to send him the demographics.

    Form 1099-INT to report the interest

    Form 1099-B to report the capital gains
  26. Answers
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    8,753

    You can only spread out the interest income over...

    You can only spread out the interest income over five years if you receive it over five years.

    Taxes are due in the year of the receipt of the income.
  27. Answers
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    8,753

    This LOOKS like a homework assignment, but I am...

    This LOOKS like a homework assignment, but I am going to give you the benefit of the doubt and answer it anyway.

    Unless Person A actively participated in the business operations of the...
  28. Bella, What exactly are you asking advice...

    Bella,

    What exactly are you asking advice about??

    Atlanta Tax Expert

    If you want advice on W=4 withholding, I also need to know what YOU earn in your job.
  29. Answers
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    4,024

    To be clear, for the salary, you need to file...

    To be clear, for the salary, you need to file Form 1116 for "general" income, and for the rent, you need to file a separate Form 1116 for "passive" income.
  30. Answers
    3
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    4,024

    Use the gross salary. Use net rent. You...

    Use the gross salary.

    Use net rent.

    You CANNOT claim rent and salary on the same Form 1116, because rent and salary are different types of income.
  31. No problem! If you need help with your tax...

    No problem!

    If you need help with your tax return for 2019, please keep me in mind.

    My email address is kempetax@gmail.com.
  32. You will file a Georgia tax return as a...

    You will file a Georgia tax return as a NON-resident of Georgia, but you will be responsible to pay Georgia income tax on the salary you earn while you are in Georgia.

    Even though you will live...
  33. Answers
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    Case 1: Since you are single, you have not yet...

    Case 1:

    Since you are single, you have not yet met the Substantial Presence Test, so you must file Forms 1040NR-EZ and 8843 ONE LAST TIME, with the state return.

    Case 2:

    Probably the best...
  34. Your understanding is correct. Unfortunately,...

    Your understanding is correct.

    Unfortunately, the IRS custodian was NOT correct in failing to withhold taxes, because the IRA is NOT considered to be a pension as defined by the tax treaty, so you...
  35. The fact that the owner lives and works in...

    The fact that the owner lives and works in California is the reason the California FTB considers the LLC to be operating in California.
  36. Even though the LLC is located in Connecticut,...

    Even though the LLC is located in Connecticut, you will still have to claim the income on your California tax return.

    Further, because the property is located in California, the state of...
  37. Answers
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    4,300

    My pleasure!

    My pleasure!
  38. Answers
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    4,300

    I believe I just said that, if not quite as...

    I believe I just said that, if not quite as eloquently as talaniman.
  39. Answers
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    4,300

    How much do you like your job? If a lot, make...

    How much do you like your job?

    If a lot, make the estimated tax payments.

    If not that much, report your employer to the city and state that he REFUSES to withhold as required by city law. When...
  40. Answers
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    4,300

    Fr Chuck addressed it. The FIRST step is to...

    Fr Chuck addressed it.

    The FIRST step is to determine if withholding is require under city law. If it is, just point that out to the employer and that should take care of the problem.

    If it...
  41. The only people to report it to would be the Los...

    The only people to report it to would be the Los Angeles Department of Motor Vehicles. Not sure they would may it any mind, but that's who would send it to,
  42. Yes, he can deduct the assessment. By the way,...

    Yes, he can deduct the assessment.

    By the way, there is a special provision in the IRC that allows U.S. citizens to file jointly with the G-1 visa holder spouses and still NOT report the G-1 visa...
  43. Answers
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    4,038

    Yes, the IRS has, for they third year in a row,...

    Yes, the IRS has, for they third year in a row, given everyone an automatic extension to submit their FBARs by 15 October 2019.

    So October 5th is fine.
  44. Sorry, I do not use the software you are...

    Sorry, I do not use the software you are referring to.

    However, you can download Form 4868 from the IRS website, complete it, and MAIL the extension to the address on the form.

    Not as quick as...
  45. There are two aspects of your reimbursement: ...

    There are two aspects of your reimbursement: Accountable and NOT Accountable.

    The Accountable portion is the airfare and hotel for which you get receipts from the contractors. That portion is...
  46. Answers
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    3,967

    The IRS is just getting started on 2017.

    The IRS is just getting started on 2017.
  47. Answers
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    4,221

    Sorry, but now you are actually asking me to help...

    Sorry, but now you are actually asking me to help you prepare the return without compensation, and there I draw the line.

    Based on your previous posts, my fee would be about $275. All you would...
  48. Answers
    7
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    4,221

    The answer to the health question is NO, and you...

    The answer to the health question is NO, and you again use the exemption code of "C".

    Yes, the exemptions I spoke of is for FEDERAL taxes, but New York will also honor those exemptions. You ARE a...
  49. Answers
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    4,221

    For the medical insurance, you were NOT required...

    For the medical insurance, you were NOT required to have any coverage until December 2018 because you were a non-resident alien. You just have to determine what exemption code to claim.

    If you...
  50. Answers
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    4,221

    I assume you are talking about the teacher's...

    I assume you are talking about the teacher's 2-year exemption.

    To answer your question, you became liable for FICA tax withholding on the date your H-1B visa was approved, so your employer WAS...
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