About yashK

yashK · ‎April 28, 2020

@AnnetteB6 I am a hobbysit. I will be purchasing some gaming stuffs from an individual. And then selling it after couple of months at a lower price. So in this scenario, I dont have to report anything. Right ? Also is there any limit on number 0f purchases, I can do. Most probably, I will be doing 4/5 such purchasing.

yashK · ‎April 28, 2020

Hello, If I buy a used electronic from from a private party through Craiglist and use it for couple of months and then sell it for price lower than my purchasing price. Do I need to report anything anywhere. Also do I need to pay sales tax or any other tax while buying things from Craiglist. Is there any limit on how many times I can purchase and sell it back on Craiglist. I am buying things for my personal uses. I will buy things , use it for some time and then sell it back.

yashK · ‎April 24, 2020

@DoninGA Got it. So it means that once I gift this car to my brother, I dont have any kind of tax liability with my car. I dont have to compare my purchase price and FMV at the time of me giving this as gift to my brother. But my brother should note down the FMV of the Car on the day I give him this gift because he will need to compare this FMV at the time of selling this car. As per my knowledge, the KBB price of this car is around 2k to 2.5k at this time. So I need not worry about any gift tax related thing also. Please let me know if all the above facts are true

yashK · ‎April 24, 2020

How can I know the FMV of the car

yashK · ‎April 24, 2020

The cars price have been decreased drastically. I purchase the car for 3K. So if I gift this car to my brother and he sells the car in future for 2k. Will he be needed to pay taxes on 2K ?

yashK · ‎April 24, 2020

Hello, I purchased a Car in 2017 . I am planning to sell it now. Do I need to pay taxes on the selling Price.

yashK · ‎April 10, 2020

Hello, I want to know how easy it is to buy a house. I dont know much about mortgages and different types of taxes to be filed after getting a mortgage/house. Those who have gone through the process of buying a house can give some guidelines. What should I look into before buying a house. Lets say if I decide which house I need to buy. Do i need to see any documents from previous owner ? Do i need to involve a housing company ? Does buying a house change my tax filling ? How to know about property taxes ? Do i need to tell government that I have bought a house so that they can send me some tax documents . I would really appreciate if someone can give me step by step process of buying a house

yashK · ‎April 6, 2020

I was curious to know if Non resident aliens can deduce their stock losses from their net income. If I am investing in Robinhood and i lost some money, can i deduce it from my net income. @pk Can you help

yashK · ‎April 5, 2020

@pk and @LinaJ2020 Got it. Thanks for pointing this out. But i am thinking of keeping it simple and filing as 1040NR.

yashK · ‎April 5, 2020

I came in august 2015. I was on f1 till sept. 30 2019. I do not pass the substantial Presence test for year 2019 as I was on h1b for 90 days and rest of the days I was on F1. Thats why my company hold FICA taxes only from Oct 1 2019. But since I am filing taxes as non resident Alien , I think i might get the FICA taxes back. Not sure about it though

Date Registered	‎June 7, 2019 3:25 PM
Date Last Visited	3 weeks ago
Total Messages Posted	24

Re: Tax reporting on Craiglist Purchases

Tax reporting on Craiglist Purchases

Re: Tax on selling a Car

Re: Tax on selling a Car

Re: Tax on selling a Car

Tax on selling a Car

Information for buying a house

non resident alien deducing stock losses

Re: F1 to H1b transition and FICA taxes

Re: F1 to H1b transition and FICA taxes