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    vneogi's Avatar
    vneogi Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 18, 2007, 09:04 PM
    Resident / Part-time resident -L1B
    Hi,

    I have L1B Visa valid from 31st March 2006. I arrived in the USA in May end and have been here since then.
    Marital Status : Single

    I have a couple of questions:
    1) My Status Resident / part time resident ?
    2) What is the effect of this status on Tax computation?
    3) Do I need to declare my income earned in foreign country (India - Financial Year - 1st April to 31st March). If yes what are the documents required and which form do I have to fill?
    4) Is this complicated to do on your own and would require a tax consultant?

    Thanks,
    V
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 19, 2007, 12:30 AM
    V:

    1-3) You are a dual-status alien. You will have to report your India-based income, but no taxes will be due. Your tax paid will be only on your U.S.-based income.

    4) The dual-status tax return is the hardest retrun to prepare In my opinion. You should get professional tax help.

    If you need my professional tax help, contact me at [email protected].
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