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Search: Posts Made By: carmen blue
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Forum: USA
Dec 11th 2012, 3:01 am
Replies: 21
Views: 2,991
Posted By carmen blue

Re: UK/USA capital gains tax help

We finally talked to our UK solicitor about it. We really didn't want to blame her but we are very annoyed she didn't mention that he should get US tax advice. I'm pleased to report that she is...
Forum: USA
Dec 10th 2012, 2:53 am
Replies: 21
Views: 2,991
Posted By carmen blue

Re: UK/USA capital gains tax help

Thanks, nun. I'm a little confused. Here's how I got the figures:

The total gain (according to the IRS) is just over 550k (GBP), so my husband's half is 225k. so 15% of that (plus 5% state) is 45k...
Forum: USA
Dec 10th 2012, 2:07 am
Replies: 21
Views: 2,991
Posted By carmen blue

Re: UK/USA capital gains tax help

nun - Thank you, I understand now. She would have little CGT as they only received the flat this year and they're selling it this year. There is nothing else in the father's estate really - this flat...
Forum: USA
Dec 9th 2012, 10:40 pm
Replies: 21
Views: 2,991
Posted By carmen blue

Re: UK/USA capital gains tax help

To try to clarify a little more about what our UK accountant is saying, he explained that, in the UK, when a donor gives a gift of his primary residence, the donor's cost basis increases at that...
Forum: USA
Dec 9th 2012, 10:17 pm
Replies: 21
Views: 2,991
Posted By carmen blue

Re: UK/USA capital gains tax help

When you say he could gift the house to his sister and the father's will could be changed - I'm confused. If he gifts the house to his sister, his sister will then sell it in her name. Where would...
Forum: USA
Dec 9th 2012, 7:15 pm
Replies: 21
Views: 2,991
Posted By carmen blue

Re: UK/USA capital gains tax help

Thank you for all your replies. Our accountant also confirmed that he can't gift his share to his sister, have her sell it and then gift him the money.

The transfer took place this summer (so no...
Forum: USA
Dec 4th 2012, 1:39 am
Replies: 21
Views: 2,991
Posted By carmen blue

Re: UK/USA capital gains tax help

Thanks. My FIL had a stroke and was moved into a home and it's fully funded by the NHS (this was while the flat was in his name and they knew that). Apparently because he was moved into a home due to...
Forum: USA
Dec 4th 2012, 1:03 am
Replies: 21
Views: 2,991
Posted By carmen blue

UK/USA capital gains tax help

My husband is a green card holder. His dad, who lives in the UK, had to move into a home last year and gave his flat to my husband and his sister. They have decided to sell it. There is no capital...
Forum: USA
Jun 7th 2012, 9:27 pm
Replies: 9
Views: 1,398
Posted By carmen blue

Forum: USA
Jun 7th 2012, 4:32 am
Replies: 9
Views: 1,398
Posted By carmen blue

Offshore banking question

I'm a USC and my British husband is a green card holder. We left the UK at the end of 2010 and we're now living in the States. We have money from the sale of our home in the UK and we were going to...
Forum: USA
May 3rd 2012, 7:39 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

Thanks - so frustrating as I spent a long time on the phone with the woman from the IRS and described the immigrant visa stamp in detail (read everything on it to her!). What other exemption could...
Forum: USA
May 3rd 2012, 7:26 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

I believe this is the formula (from pub 519):


Substantial Presence Test
You will be considered a U.S. resident for tax purposes if you meet the substantial presence test for calendar year...
Forum: USA
May 3rd 2012, 7:18 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

That's what I thought but when I called the IRS, they said they have a formula that they would go through with me. It took a long time (lots of questions to answer) and as well as telling them how...
Forum: USA
May 3rd 2012, 4:45 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

True - and as JAJ reminded me, we actually applied for his immigrant VISA in London. So when we landed in the States, they stamped his passport with his immigrant visa and then they sent his green...
Forum: USA
May 2nd 2012, 5:39 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

Just spoke to the IRS because I needed help filling in his 1040 for those days he was in the USA. Just discovered that because he got his green card on Jan 4, 2011 and wasn't physically present in...
Forum: USA
May 2nd 2012, 5:35 pm
Replies: 2
Views: 639
Posted By carmen blue

Re: Need help filing 2010 tax return - foreign tax credit or a deduction?

thank you so much for that. just spoke to the irs and because he got his green card in jan, 2011 and wasn't in the usa enough days (from 2008-2011 - they use a certain calculation), he wasn't...
Forum: USA
May 2nd 2012, 3:30 am
Replies: 2
Views: 639
Posted By carmen blue

Need help filing 2010 tax return - foreign tax credit or a deduction?

I've been posting on another forum and it has led to me posting this question.

I'm a USC and we applied for my husband's immigrant visa in London in 2010. He had his interview early December and...
Forum: USA
Apr 29th 2012, 3:42 am
Replies: 12
Views: 2,243
Posted By carmen blue

Re: Bona Fide residency test - double taxation help

Moxie and Nun - I had no idea this part-year exclusion exists! Yes, I did say I was a resident until early December, so that's why I don't believe I qualified as a bona fide resident.
Forum: USA
Apr 28th 2012, 9:46 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

So he will have to fill in the foreign tax credit form for the income he earned in those two weeks? I haven't looked at the form too closely but it looks complicated. Are we supposed to figure out...
Forum: USA
Apr 28th 2012, 9:06 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

JAJ - sorry for all the confusion. I remember now he received his green card in the mail a couple weeks after arriving in the States. So, yes, we applied in the UK and he got his visa when he landed...
Forum: USA
Apr 28th 2012, 8:57 pm
Replies: 12
Views: 2,243
Posted By carmen blue

Re: Bona Fide residency test - double taxation help

When you say 'double check your calculations', I don't see how that would change things. I only earned about $50k that year. And would you clarify what you mean when you say I might come out in...
Forum: USA
Apr 28th 2012, 8:43 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

I'm looking at his passport and the immigrant visa stamp says it started the day he landed on American soil. We applied in London and had to wait for his interview which was early December. He had to...
Forum: USA
Apr 28th 2012, 5:31 pm
Replies: 12
Views: 2,243
Posted By carmen blue

Re: Bona Fide residency test - double taxation help

Sorry, I think I'm confused. I've been claiming the foreign earned income exclusion for many years because I always passed both tests. But now I think I don't pass those tests (just!) for 2010. I...
Forum: USA
Apr 28th 2012, 4:14 pm
Replies: 12
Views: 2,243
Posted By carmen blue

Bona Fide residency test - double taxation help

I was living in the UK for 14 years and having been filing my taxes in the usual way as an American living abroad.

I moved back to the US on Dec 10, 2010. I filed my taxes for 2010 in the way I...
Forum: USA
Apr 28th 2012, 3:48 pm
Replies: 45
Views: 5,779
Posted By carmen blue

Re: FBAR help

JAJ - no, my husband was not on American soil before that date. We applied for his green card in London and when he landed in Arizona in December, that is when he received his green card. So, correct...
Showing results 1 to 25 of 71
 


 
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