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shibupillai
Level 2
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  • Re: PFIC Tax calculation

    I think I found the answers to my questions, after some frustrating search.All these can be entered on the "1040/1040SR Worksheet". Click on the Forms icon on t...
    shibupillai
    10
    Updated Oct 30, 2023

  • Re: PFIC Tax calculation

    When I complete the PFIC form, there are three amounts that are calculated.1. The income that should be included with current year's taxable income.2. The compu...
    shibupillai
    11
    Updated Oct 30, 2023

  • Re: PFIC Tax calculation

    Thank you for your response. I need one clarification regarding the income calculation, and one question regarding SIP.Let's say I purchase a Mutual Fund in 201...
    shibupillai
    12
    Updated Oct 30, 2023

  • Re: PFIC Tax calculation

    I have a followup question.You said that: "You are only responsible for reporting on PFICs that you have owned since the date you became a U.S. person for tax p...
    shibupillai
    15
    Updated Oct 30, 2023
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