Making sure I'm doing this right (Filing US taxes for first time)

Hello everyone,

I know that I have posted in here before, but my brain has been super frazzled with my new job and having to buy a new laptop so I honestly lost all my old saved tabs.

I had a passive income of around £3,000 before the beginning of 2018, and I used some savings bonds that I need to claim on the US taxes (according to Chase bank where I withdrew them). The amount was around $900.

I've gathered that I am going to file as married, filing separately because my spouse is a Brit and we share no income.

I just wanted to clarify how I go about filing my US taxes from the UK:

Is it all my earnings to date or just those before Dec 31, 2017?

What forms do I have to fill out and by what date?

When I mail everything over, do I just include my payslips and invoices? Or should I also include bank statements?

What do you recommend using to convert £ to $ for tax purposes?

Where do I mail everything to?

Any other advice you have, please let me know!



Thanks in advance!

You can include bank statements but I assure you banks automatically report info to IRS which the IRS compares to your return.About 10+ years ago, I forgot to report income from my Charles Schwab investment account. The IRS sent me a notice about the need to revise return. On a different occasion, I got a notice that I did not include income from a bank account I held with my mother. (Joint). I had to show she paid taxes on the income earned:
You can e-file your return or send a paper version to the IRS office associated with the state you last lived / filed under.  Report all 2017 income by April 15 or file for extension.

IRS has official exchange rates for returns. Try searching website for info.

You can include bank statements but I assure you banks automatically report info to IRS which the IRS compares to your return.About 10+ years ago, I forgot to report income from my Charles Schwab investment account. The IRS sent me a notice about the need to revise return. On a different occasion, I got a notice that I did not include income from a bank account I held with my mother. (Joint). I had to show she paid taxes on the income earned:
You can e-file your return or send a paper version to the IRS office associated with the state you last lived / filed under.  Report all 2017 income by April 15 or file for extension.

IRS has official exchange rates for returns. Try searching website for info.

The IRS does indeed offer unofficial average exchange rates. The IRS cannot however accurately match FATCA data with FBAR & 8938 reporting; because the both the foreign currency reported & the exchange rates & the kinds of financial assets reported will differ. Nonetheless, like HMRC; the IRS are just starting to send nudge letters to people with unreported foreign accounts.

You can include bank statements but I assure you banks automatically report info to IRS which the IRS compares to your return.About 10+ years ago, I forgot to report income from my Charles Schwab investment account. The IRS sent me a notice about the need to revise return. On a different occasion, I got a notice that I did not include income from a bank account I held with my mother. (Joint). I had to show she paid taxes on the income earned:
You can e-file your return or send a paper version to the IRS office associated with the state you last lived / filed under.  Report all 2017 income by April 15 or file for extension.

IRS has official exchange rates for returns. Try searching website for info.

Even UK banks report to the IRS?

And phew. E-filing will be much simpler in some regards.

The IRS does indeed offer unofficial average exchange rates. The IRS cannot however accurately match FATCA data with FBAR & 8938 reporting; because the both the foreign currency reported & the exchange rates & the kinds of financial assets reported will differ. Nonetheless, like HMRC; the IRS are just starting to send nudge letters to people with unreported foreign accounts.

Do I need to file FBAR? I don't really have loads of cash...

Even UK banks report to the IRS?

And phew. E-filing will be much simpler in some regards.

Do I need to file FBAR? I don't really have loads of cash...

Yes, you can efile your federal return even when residing overseas. My Louisiana return has to be mailed in.

FBAR is required if the highest value in all your foreign accounts is over $10k. e.g. if the most you have in your checking account gets to $5k and you later transfer that to a savings account you have hit the FBAR threshold even though you have never had a total of over $10k at any one time.

Yes, you can efile your federal return even when residing overseas. My Louisiana return has to be mailed in.

FBAR is required if the highest value in all your foreign accounts is over $10k. e.g. if the most you have in your checking account gets to $5k and you later transfer that to a savings account you have hit the FBAR threshold even though you have never had a total of over $10k at any one time.

Okay so my measly £2k is not enough to warrant it.


I sign on and e-file a 1040 if I am correct...?

I sign on and e-file a 1040 if I am correct...?

I would think so.  If you do have bank interest then you will also need schedule B otherwise I think that is it.

We have complicated taxes so I use TurboTax.

I would think so.  If you do have bank interest then you will also need schedule B otherwise I think that is it.

We have complicated taxes so I use TurboTax.

Nope, I literally only have whatever I get from work. Starting a savings account now that I have a job job so I can save up for the next two rounds of visas  But that will be next year's tax headache

Nope, I literally only have whatever I get from work. Starting a savings account now that I have a job job so I can save up for the next two rounds of visas  But that will be next year's tax headache

Couldn’t be simpler then, maybe even a 1040ez instead of a 1040.

Couldn’t be simpler then, maybe even a 1040ez instead of a 1040.

Hopefully it's super EZ