Scandinavians Part 2

[Suss&Camm 2,213]

15 minutes ago, N-o-l-a said:

 

Even if it is against the rules, I don't think it would be a big deal since you wouldn't need to pay taxes on it twice.    

 

I can't even remember what we did, but I thought 2555 was only for income earned while an LPR or USC, not before.  I could be grossly mistaken about that.

It's for any US tax person - which you are if you fulfill the substantial presence or opt to be treated as one as the spouse of a US citizen. If you don't fulfill the substantial presence test you have to opt, or you can't file jointly before becoming an LPR.

 

You opt to be treated as a US tax person for the entire year, not part of it, and any US tax person is required to report worldwide income per US tax laws.

Edited November 2, 2017 by Suss&Camm

[Suss&Camm 2,213]

28 minutes ago, Scandi said:

I filed taxes jointly with my husband in April (before I received my work permit and greencard) and mentioned nothing about anything I had earned in Sweden in 2016. 'Cause I'm a rebel like that. 

Well, I had to file FBAR so my income/transactions would also be traceable plus I was required per US tax law by opting to be treated as a US tax person for the entire year of 2016.

[Scandi 4,070]

Our tax guy didn't even ask about anything related to my income in Sweden (which was tiny in 2016) and he deals with (newly arrived) immigrants all the time, and I wasn't an LPR at the time either. So we didn't bother. He basically just put my name and SSN on my husband's tax papers (I wasn't brought up regarding anything really apart from being exempt from the health insurance penalty thingy, he knew all about it so I never had to use any of the papers or forms I had brought, I even brought my Swedish "deklaration" etc). I'm not worried one bit. 

[Suss&Camm 2,213]

2 minutes ago, Scandi said:

Our tax guy didn't even ask about anything related to my income in Sweden (which was tiny in 2016) and he deals with (newly arrived) immigrants all the time, and I wasn't an LPR at the time either. So we didn't bother. He basically just put my name and SSN on my husband's tax papers (I wasn't brought up regarding anything really apart from being exempt from the health insurance penalty thingy, he knew all about it so I never had to use any of the papers or forms I had brought, I even brought my Swedish "deklaration" etc). I'm not worried one bit. 

 Well it wasn't filed correctly if that's all that was done - I see tax ppl giving wrong advise on that a lot, but to each their own. The fact that he didn't bring your income up at all shows that he didn't know all about it.

[Scandi 4,070]

He's good at what he does we trust him to know what's needed or not, what's absolutely necessary and what we can skip. Like I said, we're not worried, we'll be perfectly fine, but thanks for the concern. 

[Suss&Camm 2,213]

Just now, Scandi said:

He's good at what he does we trust him to know what's needed or not, what's absolutely necessary and what we can skip. Like I said, we're not worried, we'll be perfectly fine, but thanks for the concern. 

 I'm not worried about you - I'm just saying it wasn't right

[RandB 156]

17 hours ago, Suss&Camm said:

Yes, you will only report it. It is then excluded from the total income according to the instructions and you figure your tax according to the MFJ table.

Thanks. The reason I'm asking is because we need my income to be included for Covered California (Obamacare) reasons. We're trying to calculate our total income for a specific health insurance.

[Suss&Camm 2,213]

9 minutes ago, RandB said:

Thanks. The reason I'm asking is because we need my income to be included for Covered California (Obamacare) reasons. We're trying to calculate our total income for a specific health insurance.

Well, I don't know about your state and health care but for the 1040 you enter the USC's income on line 7, on the dotted part of Line 21 "other income" you write the type of income and the amount in dollars: "2555EZ", $xx,xxx. (OR 2555 if using that). In the  Line 21 calculation box you write the same amount as a negative number and then in Line 22 when you sum lines 7 through 21 up, your foreign income is thereby excluded. 

IRS recommends a few websites for calculating the foreign currency into dollars, I used one of them:  www.x-rates.com - the currency rate used should be the one calculated as the average over the time which the income was earned. There is a function for averages on the website. 

Since you are claiming Foreign Earned Income you must figure your joint taxes using the Foreign Earned Income Tax worksheet (see 1040 instructions for line 44 "Tax") and not the regular worksheet. 

 

I hope that helps.

 

[N-o-l-a 7,167]

41 minutes ago, RandB said:

Thanks. The reason I'm asking is because we need my income to be included for Covered California (Obamacare) reasons. We're trying to calculate our total income for a specific health insurance.

 

I think you can request that it be calculated on the basis of what you expect to earn for the next tax year, at least that was an option on my state's exchange.  I suppose you'll still need to provide this year's, though.

[RandB 156]

1 hour ago, Suss&Camm said:

Well, I don't know about your state and health care but for the 1040 you enter the USC's income on line 7, on the dotted part of Line 21 "other income" you write the type of income and the amount in dollars: "2555EZ", $xx,xxx. (OR 2555 if using that). In the  Line 21 calculation box you write the same amount as a negative number and then in Line 22 when you sum lines 7 through 21 up, your foreign income is thereby excluded. 

IRS recommends a few websites for calculating the foreign currency into dollars, I used one of them:  www.x-rates.com - the currency rate used should be the one calculated as the average over the time which the income was earned. There is a function for averages on the website. 

Since you are claiming Foreign Earned Income you must figure your joint taxes using the Foreign Earned Income Tax worksheet (see 1040 instructions for line 44 "Tax") and not the regular worksheet. 

 

I hope that helps.

 

Hmm, sounds like my income cannot be used in the income calculation then...

 

Thank you for your help.

Edited November 2, 2017 by RandB

[Suss&Camm 2,213]

1 hour ago, RandB said:

Hmm, sounds like my income cannot be used in the income calculation then...

 

Thank you for your help.

It's excluded from the total income, if that was what you meant/needed? Sorry :/ 

[LinaK 0]

Hi,

 

I have an urgent question - maybe someone can help me.

I'm a little confused about the tax return information. What exactly is needed - 1040 form and/or w2? Can we download forms on IRS?

Some help regarding this would be very much appreciated.

Thank you!

[MalachiPDX 111]

On 11/5/2017 at 11:20 AM, LinaK said:

Hi,

 

I have an urgent question - maybe someone can help me.

I'm a little confused about the tax return information. What exactly is needed - 1040 form and/or w2? Can we download forms on IRS?

Some help regarding this would be very much appreciated.

Thank you!

Tax transcripts are the best. They can be downloaded or mailed to you.  

 

https://www.irs.gov/individuals/get-transcript

Edited November 8, 2017 by UsSwedlover

[Jeanette & Jason 95]

Hi June 20th 2017 here, I did my medical in end of May and was sent to the Swedish Embassy June 7th this year and at that time the process time was 3 months. Now however it is up in 5-6 months process time and closing in on 6 months since the medical was sent. 

 

They have ave finally started on the June cases at USCIS and I am estimating that an approval and a NOA2will come around next week or so and then sent to NCV which will now take 4-6 weeks rather than 2-4 weeks earlier this year. Then 1-2 weeks after that to be received at the Swedish Embassy. 

 

When end all this has been said it means that my medical has now come to over 6 months since taken - at this rate we are well into January 19 th-ish at the longest or December 22nd and we all know how many that works from Christmas to New Years hehehe. 

 

My worries are .... since I finished my medical exam at June 7th and it will be 6-7 months after that exam before I even will be able to get an interview. Are there any expiration date on the medical and have nothing to worry about or do I have to do the medical all over again? 

Edited November 17, 2017 by Jeanette & Jason

[Scandi 4,070]

2 hours ago, Jeanette & Jason said:

Hi June 20th 2017 here, I did my medical in end of May and was sent to the Swedish Embassy June 7th this year and at that time the process time was 3 months. Now however it is up in 5-6 months process time and closing in on 6 months since the medical was sent. 

 

They have ave finally started on the June cases at USCIS and I am estimating that an approval and a NOA2will come around next week or so and then sent to NCV which will now take 4-6 weeks rather than 2-4 weeks earlier this year. Then 1-2 weeks after that to be received at the Swedish Embassy. 

 

When end all this has been said it means that my medical has now come to over 6 months since taken - at this rate we are well into January 19 th-ish at the longest or December 22nd and we all know how many that works from Christmas to New Years hehehe. 

 

My worries are .... since I finished my medical exam at June 7th and it will be 6-7 months after that exam before I even will be able to get an interview. Are there any expiration date on the medical and have nothing to worry about or do I have to do the medical all over again? 

Whoa, you did your medical before getting your NOA2? Why?

 

You need to have a new medical.

Edited November 17, 2017 by Scandi