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Type: Posts; User: Trishala Raj

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  1. Answers
    3
    Views
    842

    Thanks. Appreciate your response.

    Thanks. Appreciate your response.
  2. Answers
    3
    Views
    842

    HSA Excess contribution

    Hello Atlanta Tax Expert,

    If excess contribution was made in 2020 , what is the best course of action to avoid tax and penalty on the excess contribution and the earnings before April 15th. HSA...
  3. Answers
    10
    Views
    1,063

    Thanks . Appreciate your response.

    Thanks . Appreciate your response.
  4. Answers
    10
    Views
    1,063

    Sorry I meant 1040 NR and not dual status. I have...

    Sorry I meant 1040 NR and not dual status. I have been out of USA since 2017 but withdraw small amounts of my ira income every year . So I do 1040 NR.
    In 2010
    I was on F1 student visa. Does that...
  5. Answers
    10
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    1,063

    Hello ATE, I was on F1 student visa from India...

    Hello ATE,

    I was on F1 student visa from India in 2010. Later I was on H1b visa.
    Now I am a non resident and
    filing a dual status . When I file the 1040NR, can I use Article 21(2) to
    claim...
  6. Answers
    10
    Views
    1,063

    The contribution was tax deferred but we did not...

    The contribution was tax deferred but we did not take any deduction on it . So at what rate we pay taxes then ? Is there a tax table to follow for Non residents?

    Thanks for your responses
  7. Answers
    10
    Views
    1,063

    No will not return anytime soon. What rate will I...

    No will not return anytime soon. What rate will I be taxed at? Will it be
    flat 30%?
  8. Answers
    10
    Views
    1,063

    Non Resident tax implications

    Hello Atlanta Tax Expert,

    If I left the USA in 2017 . I am now in India and so am a non-resident for US tax purposes for 2020, and want to convert part of my traditional IRA to Roth IRA. What are...
  9. Question: Doubt on W2

    by Trishala Raj
    Answers
    2
    Views
    949

    Thanks . No problem

    Thanks . No problem
  10. Question: Doubt on W2

    by Trishala Raj
    Answers
    2
    Views
    949

    Doubt on W2

    Hello,

    There has been pending balances on employees on paycheck through 2020. Paystub was created for Nov 2020 but actual payment is still pending as of Jan 2021. But w2 reflects the amount earned...
  11. Answers
    7
    Views
    1,060

    Thanks. Appreciate your response.

    Thanks. Appreciate your response.
  12. Answers
    7
    Views
    1,060

    Thanks so much. So next year for 2021 Return a...

    Thanks so much. So next year for 2021 Return a 1099 R is received. We enter
    income earned on the excess contribution which is taxed and and a penalty of 10% on that income .A form 5329 form is...
  13. Answers
    7
    Views
    1,060

    It was done in 2021

    It was done in 2021
  14. Answers
    7
    Views
    1,060

    Excess Roth Contribution for 2020

    Hello Atlanta Tax Expert,


    An excess contribution was made in Roth for 2020. Immediately on realizing it was excess contribution , the excess was withdrawn along with earnings. Fidelity has told...
  15. Question: Dual Staus

    by Trishala Raj
    Answers
    3
    Views
    896

    Thank you so much.Appreciate your response

    Thank you so much.Appreciate your response
  16. Question: Dual Staus

    by Trishala Raj
    Answers
    3
    Views
    896

    Dual Staus

    Hello,

    I have a question on how to file dual status return.

    We were in US for 5 years on H1b visa. Left USA permanently in June 2019. I filed a dual status return MFS. From Jan to June, I...
  17. Answers
    3
    Views
    995

    So for Cost basis 25% is the cost the parents...

    So for Cost basis 25% is the cost the parents paid And 75% is the fmv on date of inheritance?

    https://www.law.cornell.edu/cfr/text/26/1.1014-6
  18. Answers
    3
    Views
    995

    Cost basis of property when I sell

    What if a parent gifts real property to a child? My name was included in 25% of the title Of land when my dad was alive. When my dad died, I received the remaining 75% to the land. Now after 15...
  19. Answers
    3
    Views
    1,053

    Thanks Atlanta Expert. When a dual status is...

    Thanks Atlanta Expert.

    When a dual status is filed, we can only do MFS ...correct? And the return should be mailed in along with the Termination Statement

    If joint return is done with world...
  20. Answers
    3
    Views
    1,053

    Filing Status - 2019

    Hi,

    I came on an H1B visa to US from India in 2017 with family. I have permanently returned to India on July 8th 2019. What should my filing status be for 2019? In 2017, I did the first choice...
  21. Answers
    3
    Views
    4,917

    Thank you so much for your response. I appreciate...

    Thank you so much for your response. I appreciate it.
  22. Answers
    3
    Views
    4,917

    Form 1116 tax credit

    Hi,

    When I Use Form 1116, to get foreign credit should I take the Gross salary and rent or is it net?

    Thanks
  23. Question: How to file

    by Trishala Raj
    Answers
    1
    Views
    4,730

    How to file

    Hi,

    Case 1:Was on F1 since 2016. Got opt from 04/2018. On 10/2018 started on H1b. Filed extension and have not filed return so far for 2018. I am single. What is the best way for me to file?

    ...
  24. Question: HSA

    by Trishala Raj
    Answers
    5
    Views
    4,565

    Thank you for your response.

    Thank you for your response.
  25. Question: HSA

    by Trishala Raj
    Answers
    5
    Views
    4,565

    Is the amount in box 12 already included in box 1...

    Is the amount in box 12 already included in box 1 wages? If the amount in box 12 code W is different from Form 5498 sa , should the difference be entered anyway?
  26. Question: HSA

    by Trishala Raj
    Answers
    5
    Views
    4,565

    HSA

    ATE, can you please explain if code W in box 12 includes employer and employee contrubitions for HSA? Should this amount match Form 5498 SA and what if there is a difference ? Is it taxable?
    ...
  27. Answers
    7
    Views
    4,847

    Thank you for your help

    Thank you for your help
  28. Answers
    7
    Views
    4,847

    ATE, can they make “first choice “ to be...

    ATE, can they make “first choice “ to be residents now itself and file MFJ by April or should they file for extension and then file MFJ?
  29. Answers
    3
    Views
    4,800

    Thank you

    Thank you
  30. Answers
    3
    Views
    4,800

    FBAR for insurance policy

    Hi,

    If we have LIC ( insurance) policy in India of minimum value, should we file FBAR? ($3000)
  31. Answers
    3
    Views
    4,529

    Thank you. I appreciate your response.

    Thank you. I appreciate your response.
  32. Answers
    7
    Views
    4,847

    Thank you so much for your response. I have a...

    Thank you so much for your response. I have a doubt if they have an option for “ first year choice” where they claim themselves as residents and file MFJ.
  33. Answers
    3
    Views
    4,529

    EIC age limit

    Hi,

    Filing status is MFJ. One spouse is 66 and the other is 60. Can they claim EIC if all other requirements are met? Does one spouse age above 65 disqualify them from claiming EIC?
  34. Answers
    7
    Views
    4,847

    Filing Status for H1b

    Hi,

    Came to US on H1b for the first time with spouse on July 10th 2018. What should my filing status be ? Both are Indian citizens.
  35. Answers
    14
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    1,218

    North Carolia

    North Carolia
  36. Answers
    14
    Views
    1,218

    Speeding ticket at school zone -wake county

    HI,

    Got a speeding ticket in wake county at a school zone( 36mph) WHat is my best option . I have never got a speeding ticket before.

    1. Should I ask for a speed reduction to 9mph? Is that...
  37. Question: Box 10 in W2

    by Trishala Raj
    Answers
    3
    Views
    645

    Box 10 in W2

    I had enrolled in dependent care benefits FSA and contributed $5000 this last year. I have 2 kids. Age 3 who goes to day care and another 10 month baby who is at home with my spouse. Spouse does not...
  38. Answers
    15
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    822

    Thank you. I have one more doubt. One of my...

    Thank you. I have one more doubt. One of my friends did mention that I can rollover my 401k only when I leave my company. Is this true?
  39. Answers
    15
    Views
    822

    Atlanta tax Expert, my company issued a check...

    Atlanta tax Expert, my company issued a check from my 401k before Dec 31st. But It has not been deposited to an IRA and then to a Roth. Is it too late to do so? Or do I have until April 15th.
  40. Answers
    15
    Views
    822

    Thank you. I appreciate your help

    Thank you. I appreciate your help
  41. Answers
    15
    Views
    822

    So if I file single NR alien or married NR alien,...

    So if I file single NR alien or married NR alien, I assume, I am in the25% tax bracket . Does it matter which way I file?

    Thanks.
  42. Answers
    15
    Views
    822

    I am married with 2 kids. Is it correct that I...

    I am married with 2 kids. Is it correct that I can file as single in my 1040 NR? Which is a better option? To file as single or MFJ?

    Thanks,
  43. Answers
    15
    Views
    822

    Atlanta Tax Expert, My company has not...

    Atlanta Tax Expert,

    My company has not reported my income due to my visa status. I am transferring 100k from my 401k to IRA and then to Roth by Dec 31st. So is it correct, that I am going to get...
  44. Answers
    15
    Views
    822

    Thank you for your response. I really appreciate...

    Thank you for your response. I really appreciate it.
    Does the below paragraph have any impact on me when I make the rollover?

    I am rolling my 401k to ira and then to a Roth by the year end
    ...
  45. Answers
    15
    Views
    822

    Rollover to Roth

    Hi,

    My company send me to Qatar in July 2012 to work there. I am on H1 B visa. I get paid in dollars there . When I file my return for 2014, will I file as non resident alien? I have been told...
  46. Thank you for your response. Sorry for the delay...

    Thank you for your response. Sorry for the delay in responding. My phones and internet were down.

    Do let me know if I have understood this right.

    I will file a joint return at the end of the...
  47. Thanks for the response. Also wanted to clarify...

    Thanks for the response.
    Also wanted to clarify
    1. I get paid in $ and it's a direct deposit in my US account itself from which taxes are withheld . I do not get paid in any form in Qatar currency....
  48. H1B transferred to Qatar - tax implication

    I have been working in US for the last 7 years on H1B visa. In May I have been transferred to Qatar to work for 2 years. How do I file my taxes this year? Should I report world wide income. What if...
  49. Question: Interns

    by Trishala Raj
    Answers
    2
    Views
    554

    Thanks :-)

    Thanks :-)
  50. Question: Interns

    by Trishala Raj
    Answers
    2
    Views
    554

    Interns

    Does anyone know how you pay an Intern? Are they treated like regular employees? Payroll deduction, SS and medicare are all deducted and they are issued a W2 at the end of the internship.

    Thanks...
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