Tax Forms

Ok,  let me see if I understand the tax forms I need. 

I will have been in the UK for a year on May 1st. 

So I file a 2350 to extend my tax year so I meet the Phyiscal Presence Test. 

Then I file a 1040 and a form 2555 (or a 2555EZ). 

I earned no money in the US this year at all. 

We don't own a house and I have had no capital gains or losses or anything like that.

TIA and also ugh.

1. You file a 4868 if you need to meet the physical presence test.

2. You file a TDF90-22.1 and Schedule B if you had the equivalent of $10,000 in a foreign bank/securities account.

3. You may need to file a State return.

4. You may want to deduct moving expenses.

5. You may need to file a form 1116 to claim foreign tax credits.

Hooray for being poor.  One less form to fill out.

No state return according to the residency test. 

I guess I need to look into the last two, boooooo.

Unless you earned more than the GBP equivalent of $83,500 for 2007 then there's no point in filing a 1116 since the 2555 excludes that amount from being taxable anyway.

According to the 4868 if you need to extend for the Phyiscal Presence Test you need to file the 2350. 

So does that mean I have to do them both? 

Blech.

No - because the form 4868 takes you up to 15 October and you can file by then.

Ahhhhh, I see.  I thought I wouldn't need that much time since I will have been in the country for almost the amount of time I needed to be. 

In fact since we automatically get an extension until June for being overseas, whenever that is, then I will have had enough days by that point.

Ironically, we got married on tax day.  I suppose we won't forget the date.

I'm pretty much in your situation (except I'm not married yet and I've lived here a bit longer) and I'm pretty sure I just need to fill out a 1040 and 2555EZ.  I'm glad I have an uncomplicated tax situation, even figuring that much out was bad enough!

What is the physical presence test?  Did I miss something in my research?

PPT = >330 outside of US in any rolling 365 day (366 day over a leap year) period.

Example:  Arrive in UK 1 August 2007, stay through 31 July 2008; you have met the 330 test on 25 June 2008; and can not file until after you have met the test.

I arrived on Nov. 9, 2007.  Does that mean that I can't file for 2007 until Nov. 2008?  I did not earn any money in the UK in 2007.

So my 330 days will be up on April 1st. 

So because we automatically get the extra extension, I can just file in June without having to use any other forms?

When you file in June do you just include a letter stating why you are filing late? 

Basically I bookgrl, am an overseas resident in the UK.  Thanks a bunch for still making me fill out these forms?

Thanks again.  I will certainly be investing in the Turbotax.