pk
Level 15
Member profile
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@guri0121, agreeing with my colleagues @Mike9241 &@xmasbaby0, I would just like to add that if the donor ( of the gift ) is not a US person ( citizen/ GreenCard...
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@frank790628, assuming that what you are trying to achieve is to avail yourself of the main-residence exclusion of capital gain from taxation ( $250,000 for eac...
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@annava17, (a) as a US person ( citizen/ GreenCard / Resident for Tax purposes ) US will tax you on your world income. Thus you have to report this foreign asse...
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@rwh03001, the process outlined by you is not correct. Please see the definition of total foreign source taxable income. Section 902 through 911 of the IRC does...
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@jmpeacock-sbcglo Agreeing with my colleagues (@xmasbaby0 and@Mike9241) in general and in abstract, and looking at the actual amounts that you are proposing to ...
Activity Feed for pk
- Posted Re: Gift Tax Considerations for a $220k Lump Sum Mortgage Payment Gift from a Friend on Deductions & credits. yesterday
- Posted Re: about primary residence for Publication 523 on Deductions & credits. Friday
- Posted Re: Selling foreign property and taxes in USA - Tax % on Deductions & credits. Thursday
- Posted Re: Foreign earned income increases tax due even after exclusion! on Get your taxes done using TurboTax. Tuesday
- Posted Re: Can I loan a family member a large amount of money without charging interest or reporting it to the IRS? on Deductions & credits. Monday
- Posted Re: If a US resident (not citizen) only works outside of the US (remotely), and resides in the US for the whole year, do they have to file taxes? on Deductions & credits. a week ago
- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. 2 weeks ago
- Cheered Re: My relative will send me 15k from a foreign country as a gift. She would send it via bank transaction (not cash). Do I need to report it in form 3520? Is this taxable? for DoninGA. 2 weeks ago
- Got Cheered for Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV?. 2 weeks ago
- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. 2 weeks ago
- Got Cheered for Re: Non-Cash charitable donations: Is $5000+ FMV trigger per donation or per year?. 2 weeks ago
- Posted Re: Non-Cash charitable donations: Is $5000+ FMV trigger per donation or per year? on Deductions & credits. 2 weeks ago
- Posted Re: does form 1116, foreign tax credit for $587.20, nonresident tax withheld from dividends, lower my taxes? on Deductions & credits. 3 weeks ago
- Posted Re: TT is calculating my Foreign Tax Credit to be $0 on Deductions & credits. 3 weeks ago
- Posted Re: Open foreign account or just wire service money to US bank? on Deductions & credits. 3 weeks ago
- Got Cheered for Re: TT is calculating my Foreign Tax Credit to be $0. 3 weeks ago
- Got Cheered for Re: TT is calculating my Foreign Tax Credit to be $0. 3 weeks ago
- Posted Re: TT is calculating my Foreign Tax Credit to be $0 on Deductions & credits. 3 weeks ago
- Posted Re: TT is calculating my Foreign Tax Credit to be $0 on Deductions & credits. 3 weeks ago
- Posted Re: Form 1040 instead of form 1040NR in 2017 on After you file. 4 weeks ago