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    pchaudhary1's Avatar
    pchaudhary1 Posts: 2, Reputation: 1
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    #1

    Mar 5, 2011, 03:01 PM
    Federal income tax - first year choice of residency
    Hi,
    I am on L1 visa and came to USA from India with my wife and kid on 10 oct 2010. For income tax filing for 2010 I am taking the first year choice of residency. Hence I have filed an extension and when I complete 183 days in USA, I will file my returns (on 3 July 2011).

    I am filing as married filing jointly. I have an SSN and will be applying for my wife's and kids ITIN when I file my returns.

    For first year choice of residency I have read that one has to declare world income.

    I would like to know whether :

    1) World income i.e income from India + income in US is to be declared on line 7 of form 1040 ?

    2) Since I only have form W2 to attach (which shows only US income), is there any other form to be attached which shows my India income ?

    Thanks,
    Pradeep
    taxesforaliens's Avatar
    taxesforaliens Posts: 649, Reputation: 117
    Senior Member
    		  
    #2

    Mar 15, 2011, 08:23 AM
    1) Yes, you need to report your worldwide income. But you maybe able to exclude it from being taxed using form 2555 or taking a credit for foreign paid taxes on form 1116.
    2) You do not need to attach any statement, but you should have the records at hand in case the IRS audits you.
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