Hello
Guest

Sponsored Links


Topic: Correct form to complete  (Read 614 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 2

  • Liked: 0
  • Joined: Mar 2018
Correct form to complete
« on: March 25, 2018, 04:02:38 PM »
Hi, can anyone advise the correct form/forms to complete for my us tax return. I live full time in Ireland, earn under €40,000 euros and don’t own any property or have any savings, just the one bank account which all money goes into and out of. I have not had any earnings in the US for the past 36 months. I am trying to avoid paying an accountant and hoping my cicrsumstance will be simple enough to complete the form.


  • *
  • Posts: 5659

  • Liked: 676
  • Joined: Sep 2015
Re: Correct form to complete
« Reply #1 on: March 25, 2018, 04:17:40 PM »
1040A with a schedule B attached to report your bank account. If you have had the equivalent of $10,000 USD in your bank account on any day in 2017, you also have to do the FACTA paperwork.... If not, just the 1040A & Schedule B. (1040 can also be used, but it's slightly longer). It's pretty straight-forward. :)

There's also the credit for foreign taxes paid. I believe that's form 1116.
« Last Edit: March 26, 2018, 08:13:05 AM by Nan D. »


  • *
  • Posts: 1289

  • Liked: 111
  • Joined: Jan 2010
Re: Correct form to complete
« Reply #2 on: March 26, 2018, 10:59:45 AM »
To avoid paying tax or penalties to the US in addition to tax paid in Ireland, a minimum of 4 forms are required for the US: Form 1040 or 1040A, Form 2555 or 1116, Schedule B, and Form 8965.

If the sole bank account held $10,000 on any 1 day, an FBAR, FinCEN 114, is required. If the sole account held $200,000 on any one day, a Form 8938, FATCA, may be required.
« Last Edit: March 26, 2018, 11:58:45 AM by theOAP »


Sponsored Links





 

coloured_drab