I moved to the UK in August 2016 (from NYC) to become a postgraduate student at a London University. My student visa expires at the end of 2017. Do I still qualify as a resident of NY while I am living abroad? Should I enter my current UK address, or use a family member's NY address for mailing? Does studying abroad disqualify me for EIC? I have a joint savings account now at a UK bank, while I am here - does that qualify as a foreign asset?
You are a NY resident if you maintain permanent place of abode in NY state and spent 184 days or more in NY state during the year.
It doesn't matter what address you enter, it is used for correspondence purposes.
Studying abroad does not qualify you for the EIC, you must have earned income to qualify for the credit.
Yes, a savings account in a foreign country is a foreign financial asset -it is called Foreign Financial Account.
NOTE: You are not asking any questions regarding your postgraduate study, so I though I will provide you with some information just in case...You may be able to deduct some of your education expenses if the foreign school you attended is a qualified educational institution for education tax credit purposes. A qualified school is any college, university, or other post-secondary educational institution eligible to participate in a student aid program Administered by the U.S. Department of Education. Please refer to the U.S. Federal Student Aid link to check if your university is qualified educational institution for tax education purposes.
You are a NY resident if you maintain permanent place of abode in NY state and spent 184 days or more in NY state during the year.
It doesn't matter what address you enter, it is used for correspondence purposes.
Studying abroad does not qualify you for the EIC, you must have earned income to qualify for the credit.
Yes, a savings account in a foreign country is a foreign financial asset -it is called Foreign Financial Account.
NOTE: You are not asking any questions regarding your postgraduate study, so I though I will provide you with some information just in case...You may be able to deduct some of your education expenses if the foreign school you attended is a qualified educational institution for education tax credit purposes. A qualified school is any college, university, or other post-secondary educational institution eligible to participate in a student aid program Administered by the U.S. Department of Education. Please refer to the U.S. Federal Student Aid link to check if your university is qualified educational institution for tax education purposes.
Thanks for the information! 1 followup Q on residency- Do i need BOTH a permanent place of abode AND have spent 184 or more days in NYS to qualify as a NY resident? I surpassed 184 days as I moved to the UK (for educational reasons) in August 2016 (as well I was was born in NY, lived there all my life, have a NYS driver's license). But I do not own property in NYS to call my permanent abode, as I have always rented.
I was also earning income in NYS during 2016, and have earned no income in the UK in 2016-2017.
Yes, both are required... but permanent place of abode refers to a residence where you lived, whether you own it or not. You therefore met both items since you surpassed 184 days. more information if you'd like...<a rel="nofollow" target="_blank" href="https://www.tax.ny.gov/pubs_and_bulls/tg_bulletins/pit/permanent_place_of_abode.htm">https://www.tax.ny.gov/pubs_and_bulls/tg_bulletins/pit/permanent_place_of_abode.htm</a>
I am a graduate student living abroad. I do some contract work in the US and get a 1099 NEC. Do I qualify for the EIC credit? I am enrolled full-time in a European university. Do not receive any foreign income.
There is nothing in the information that you shared that would disqualify you from being eligible to receive the Earned Income Tax Credit on your return unless you are under the age of 24. However, there is not enough information there to say with certainty that you would qualify for the EITC.
The answer will depend on your age and your earned income.
See the following TurboTax help article for more information:
Thank you. I have read through all the information. I make under 15,000. I am a US citizen. My doubt is when turbo tax if I have lived in the US for Six months, and count time away. Now I currently live outside the USA because I am a graduate student in a foreign institution. Does this time away make me not qualify. I have tried to call IRS for help. The agent was not very helpful and said at the end that since I am not Military then I may not qualify. Are you able to clarify this.
I am finding some conflicting information regarding the requirement that you must have lived in the US for six months or more to qualify for the EITC.
Looking at the IRS Publication 596 Earned Income Credit (EIC), the rules are stated differently when you have a qualifying child and when you do not. If you have a qualifying child, then temporary absences for either the taxpayer or the qualifying child outside of the US for education are allowed and the credit may still be claimed. If you do not have a qualifying child, then the temporary absence does not apply unless you are in the military.