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Hello Atlanta tax expert,

Can you confirm as I am green card holder, I file Form 1040. Correct?

TIA

I am a Green card holder

In 2014 -2019 - working and living in USA

2020 - 2021 working and living in Canada

2022 until Oct 14th working and living in Canada

2022 from October 15th to date...

Thanks. Appreciate your response.

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...

Thanks . Appreciate your response.

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...

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...

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

No will not return anytime soon. What rate will I be taxed at? Will it be
flat 30%?

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...

Thanks . No problem

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...

Thanks. Appreciate your response.

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...

It was done in 2021

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 Immediately on realizing it was excess contribution , the excess was withdrawn along with earnings.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...

Thank you so much.Appreciate your response

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...

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

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...

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...

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...

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

Hi,

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

Thanks

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?

...

Thank you for your response.

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?

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?
...

Thank you for your help

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?

Thank you

Hi,

If we have LIC ( insurance) policy in India of minimum value, should we file FBAR? ($3000)

Thank you. I appreciate your response.

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.

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?

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.

North Carolia

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...

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...

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?

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.

Thank you. I appreciate your help

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.

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,

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...

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
...

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...

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...

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....

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...