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Topic: Quick tax question  (Read 974 times)

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Quick tax question
« on: February 16, 2015, 01:33:33 PM »
I moved over in August 2014 and didn't work at all in the US or the UK during 2014. However I do need to file taxes to document this because I'll have student loans going into repayment at the beginning of 2016 and I need to make sure I have a good paper trail of my income. Am I correct in assuming I only need to file the 1040EZ? I'm working in the UK now so obviously next year I'll deal with 1116 or 2555 (not sure I got this numbers exactly right, but I'm just going off the top of my head now.), but for now the 1040 should suffice right? Sorry if this question is incredibly stupid. I'm one of those twenty something's who has managed to make it this far in life with only having filed taxes on my own in the US once before, so I just want to be sure I've got it right. Thanks for your patience.
April 11, 2012-Began talking online
June 2012-Officially dating
August 2012-Met in person
Aug 2012-Nov 2012-Tier 4 (General)
Aug 2014-present- Tier 4
Oct 2015-Wedding!!! and spouse visa sometime after that and before the Tier 4 expires


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Re: Quick tax question
« Reply #1 on: February 16, 2015, 02:18:31 PM »
I do have both US and UK bank accounts if that changes any answer.
April 11, 2012-Began talking online
June 2012-Officially dating
August 2012-Met in person
Aug 2012-Nov 2012-Tier 4 (General)
Aug 2014-present- Tier 4
Oct 2015-Wedding!!! and spouse visa sometime after that and before the Tier 4 expires


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Re: Quick tax question
« Reply #2 on: February 16, 2015, 02:59:10 PM »
It sounds as if the 1040EZ should work in your situation. This article however will provide more specific details:http://www.irs.gov/taxtopics/tc352.html

Your best bet will be to use either an expat accountant (many will do a no income return such as yours for much less than the standard rates- I know we do at least) or a tax software to help walk you through the forms and schedules that will be needed in your situation.

Also, if you have more than 10K total in your foreign bank accounts you will have to file an FBAR form (FINCEN 114). This is due by June 30th and is e-filed online.

I hope this helps!
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Re: Quick tax question
« Reply #3 on: February 16, 2015, 04:13:03 PM »
Thanks! I haven't reached the threshold for filing FBAR in my foreign account. However, does the mere existence of a foreign account during 2014 require me to file schedule B?
April 11, 2012-Began talking online
June 2012-Officially dating
August 2012-Met in person
Aug 2012-Nov 2012-Tier 4 (General)
Aug 2014-present- Tier 4
Oct 2015-Wedding!!! and spouse visa sometime after that and before the Tier 4 expires


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Re: Quick tax question
« Reply #4 on: February 16, 2015, 06:37:58 PM »
You will need to report any interest earned on your UK accounts, even if miniscule. Schedule B is no big deal.

Download TurboTax or check the IRS website to see if you qualify for one of the free e-file services.
Married December 1992 (my 'old flame' whom I first met in the mid-70s)
1st move to UK - 1993 (Letter of Consent granted at British Embassy in Washington DC)
ILR - 1994 (1 year later - no fee way back then!)
Back to US in 2000
Returned to UK July 2011 (Spousal Visa/KOL endorsement)
ILR - September 2011
Application for naturalization submitted July 2014
Approval received 15-10-14; ceremony scheduled for 10 November!
Passport arrived 25 November 2014. Finally done!


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