Hello
Guest

Sponsored Links


Topic: V limited income in 2022, should I file with IRS anyway?  (Read 1766 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 15

  • Liked: 0
  • Joined: Apr 2022
V limited income in 2022, should I file with IRS anyway?
« on: May 17, 2023, 11:11:23 AM »
2022 was a year with less than $12,500 income from US holdings, no earned income, and less than $10K held in UK bank.  I wonder if I need to file with the IRS anyway, just so there's no "hole" in my record, as I will have to file for 2023, in both countries. Ugh!  What do you think/recommend as the best strategy for this?
Thanks!


  • *
  • Posts: 4470

  • Liked: 971
  • Joined: Apr 2016
Re: V limited income in 2022, should I file with IRS anyway?
« Reply #1 on: May 17, 2023, 02:42:26 PM »
2022 was a year with less than $12,500 income from US holdings, no earned income, and less than $10K held in UK bank.  I wonder if I need to file with the IRS anyway, just so there's no "hole" in my record, as I will have to file for 2023, in both countries. Ugh!  What do you think/recommend as the best strategy for this?
Thanks!
It depends on how you file. If married filing separately the limit is only $5 so you will have to file.

Sent from my Pixel 6a using Tapatalk



  • *
  • Posts: 4130

  • Liked: 747
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: V limited income in 2022, should I file with IRS anyway?
« Reply #2 on: May 17, 2023, 03:39:46 PM »
My son lives close by us in the UK and has had zero taxable income this past few years but he files anyway and it did mean that he received all of the Covid stimulus payments. His tax return shows his UK wages, zeroed out by the FEIE for 2555, no US income, and he mailed in a copy of his return to the IRS this last week. He does have more that $10k in UK financial accounts so does file an FBAR online each year.
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 15

  • Liked: 0
  • Joined: Apr 2022
Re: V limited income in 2022, should I file with IRS anyway?
« Reply #3 on: May 17, 2023, 04:51:02 PM »
I would file as single person. Probably should bite the bullet then.
Thx for your responses!


  • *
  • Posts: 544

  • Liked: 46
  • Joined: Jan 2012
Re: V limited income in 2022, should I file with IRS anyway?
« Reply #4 on: May 17, 2023, 06:27:00 PM »
I'd file even if I didn't need to. You've got consistency then going forward. A memo to self for the future that you hadn't forgotten that year!


Sponsored Links