Confusing

[Izor 79]

I moved from Sweden to US in April last year, i did work in Sweden up until that month.

 

We got married in June, got my green card in October, we bought a house in December and i started working that month aswell.

 

We are planning on using Turbotax, as i understood, i only have to report my Swedish income but not tax on it since it was under $100.000?

I was planning on filing as a resident for tax purposes and we are filing jointly. Is including the form 2555 all i have to do?

 

We are expecting significant money since we have lots of deductions to make from the house buying etc, so i really do not want to mess anything up. 

Edited March 7, 2017 by Izor

[Izor 79]

Or i guess form 1116?

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[Izor 79]

Or is it easier to just file dual state?

 

[Suss&Camm 2,213]

52 minutes ago, Izor said:

I moved from Sweden to US in April last year, i did work in Sweden up until that month.

 

We got married in June, got my green card in October, we bought a house in December and i started working that month aswell.

 

We are planning on using Turbotax, as i understood, i only have to report my Swedish income but not tax on it since it was under $100.000?

I was planning on filing as a resident for tax purposes and we are filing jointly. Is including the form 2555 all i have to do?

 

We are expecting significant money since we have lots of deductions to make from the house buying etc, so i really do not want to mess anything up. 

You can use Turbotax to calculate but you can't e-file. If you want to use 2555 for income earned prior to being required to file a return (when you become a tax resident, green card or presense test) you have to add the election statement and file by mail. Yes for your Swedish income you just fill out 2555 and then add both of your incomes under wages on the 1040. The sum from the 2555 is excluded again further down on the 1040...

Edited March 7, 2017 by Suss&Camm

[Izor 79]

1 minute ago, Suss&Camm said:

You can use Turbotax to calculate but you can't e-file. If you want to use 2555 for income earned prior to being required to file a return (when you become a tax resident, green card or presense test) you have to add the election statement and file by mail. Yrs for your Swedish income you just fill out 2555 and then add both of your incomes under wages on the 1040. The sum from the 2555 is excluded again further down on the 1040...

Hmmm oki, is it better to do form 1116 or file dual state?

[Suss&Camm 2,213]

4 minutes ago, Izor said:

Hmmm oki, is it better to do form 1116 or file dual state?

I remember choosing the 2555 and tax resident after doing a lot of research... but since I didn't choose to go that way, I don't remember exactly the ins and out. I can tell you as much as the rules dual state and the tax credit are more complicated.

 

You'll have to decide if you want credits or exclusion.... the credits are non-refundable... I believe that was a part in why I didn't choose it.

 

Edit: I also wanted to file jointly for evidence of co-mingling at ROC.

Edited March 7, 2017 by Suss&Camm

[Izor 79]

1 minute ago, Suss&Camm said:

I remember choosing the 2555 and tax resident after doing a lot of research... but since I didn't choose to go that way, I don't remember exactly the ins and out. I can tell you as much as the rules dual state and the tax credit are more complicated.

 

You'll have to decide if you want credits or exclusion.... the credits are non-refundable... I belive that was a part in why I didn't choose it.

Okay thank you so much, glad i started looking into this early since i did not expect it to be this confusing. I will probably just take form 2555 and everything to H&R block. That form is not the easiest to fill out. 

 

Jag saknar skatteverket! hehe. 

[Suss&Camm 2,213]

4 minutes ago, Izor said:

Okay thank you so much, glad i started looking into this early since i did not expect it to be this confusing. I will probably just take form 2555 and everything to H&R block. That form is not the easiest to fill out. 

 

Jag saknar skatteverket! hehe. 

Hahaha ja det trodde man aldrig man skulle!!!

 

I wouldn't recommend H&R block... I've seen many here on VJ get wrong information there. Immigration and taxes is complicated and you should look for an expert on this if you wanna go that way. You can probably use 2555ez instead. Read the "who files" part. 

The problem with going to H&R block too is, you'll never know if they are right or not... cause they will act like they 100% sure... I've seen this on here unfortunately...

 

It's not hard to fill out though... not rly...

Edited March 7, 2017 by Suss&Camm

[Izor 79]

5 minutes ago, Suss&Camm said:

Hahaha ja det trodde man aldrig man skulle!!!

 

I wouldn't recommend H&R block... I've seen many here on VJ get wrong information there. Immigration and taxes is complicated and you should look for an expert on this if you wanna go that way. You can probably use 2555ez instead. Read the "who files" part. 

The problem with going to H&R block to is, you'll never know if they are right or not... cause they will act like they 100% sure... I've seen this on here unfortunately...

 

It's not hard to fill out though... not rly...

Is it ok to send a quick question in PM?

[Suss&Camm 2,213]

Just now, Izor said:

Is it ok to send a quick question in PM?

Sure thing

[Gitana 11]

yes you would probably qualify for form 2555EZ  if your income is less than 100k. Keep in mind that your qualifying period will be  from april 2016 to april 2017( chwxk the date you entered usa and add 35 days), then start your period from that date. So your  foreign income exclusion will be portion of your qualifying period. That form is not difficult to fill:)) feel free to ask

[Izor 79]

3 hours ago, Gitana said:

yes you would probably qualify for form 2555EZ  if your income is less than 100k. Keep in mind that your qualifying period will be  from april 2016 to april 2017( chwxk the date you entered usa and add 35 days), then start your period from that date. So your  foreign income exclusion will be portion of your qualifying period. That form is not difficult to fill:)) feel free to ask

Thank you I'm working on filling it out now, will let you know if I need help.

[Izor 79]

Anyone heard about the form 8965 to exempt health coverage for i'm guessing the months i wasn't in the country or before we got married?

 

ARE THERE ANY other forms i need to fill out? i am seriously getting so fed up with this, starting to sound easier to not file as a resident. 

[Suss&Camm 2,213]

2 hours ago, Izor said:

Anyone heard about the form 8965 to exempt health coverage for i'm guessing the months i wasn't in the country or before we got married?

 

ARE THERE ANY other forms i need to fill out? i am seriously getting so fed up with this, starting to sound easier to not file as a resident. 

lol yes that's the other one.. but all you do is put x's for the months you were not in the country basically... and put a C for type of exemption.

No more forms regarding you.

Edited March 8, 2017 by Suss&Camm

[Izor 79]

Just now, Suss&Camm said:

lol yes that's the other one.. but all you do is put x's for the moths you were not in the country basically... and put a C for type of exemption.

No more forms regarding you.

Hahah that is what i did, thank you! i feel a little less frustrated now

and GLAD that i am done with forms for now.

Btw, do you think it is possible to do all the calculations through Turbo tax, print the 1040 and then mail it? would save some headache too.