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I am filling out form 8621. We invested last year in an
I am filling out form 8621. We invested last year in an offshore real estate acquisition company (Caymans) for the first time, and are filing 8621 for the first time this year. We are electing to Trea… read more
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I would like to know how to calculate Part V (Distributions
I would like to know how to calculate Part V (Distributions From and Dispositions of Stock of a Section 1291 Fund) of Form 8621 for my situation. I'm a US permanent resident. My 2013 Tax status was no… read more
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I am a Canadian citizen living in the USA on a TN Visa. I
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Robin, I am a US Citizen living in India past 8 years. I am not employed, nor
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When you elect Section 1291 fund sale of PFIC ( Passive
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Regarding PFICs. I am a bona fide ex***** *****ving abroad. I have
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I am a US citizen living permanently in the UK. I am completing
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Question re Part V of IRS Form 8621: I and my Canadian-born
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Client set up foreign corporation ABC which then purchased securities in various European bank accounts. Client is US citizen and owns 50% of ABC corp. All assets of corporation are securities. All in… read more
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8621 - the PFIC swamp Enter 2010 with a Fund, original cost
8621 - the PFIC swamp Enter 2010 with a Fund, original cost in 2009 100,000, valued at 90,000 Exit 2010 with it valued at 80,000. An unrealized LOSS of 10'000? Enter 2011 with 80,000 valuation Exit 20… read more
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I am an expat and am filling out form 8621 Part IV for gains
I am an expat and am filling out form 8621 Part IV for gains I had on Canadian Mutual Funds. From what I read in the instructions regarding the foreign tax credit is that the credit only applies to di… read more
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What is the correct tax treatment for the sale of a foreign
What is the correct tax treatment for the sale of a foreign (non-US, would be treated as PFIC) fund, which was purchased BEFORE becoming a US resident and sold during the year that one becomes a Green… read more
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I have shares of CEF which is a a PFIC which I purchases at
I have shares of CEF which is a a PFIC which I purchases at various times over the last 8 years. The need for the form 8621 has just become clear to me. There is no ordinary earnings or net capital ga… read more
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I have a new client who has not filed previous 8621s but does
I have a new client who has not filed previous 8621's but does have a PFIC. What is my best avenue?… read more
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Question about Sec 1291 gain/loss on a PFIC (Form 8621). Im
Question about Sec 1291 gain/loss on a PFIC (Form 8621). I'm a US citizen, currently residing abroad. I purchased a foreign mutual fund (out of ignorance of the whole PFIC quagmire) in two lots - one … read more
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I am a US citizen living in Canada and trying to fill out my
I am a US citizen living in Canada and trying to fill out my 2011 US tax return. A a long-term resident (landed immigrant) of Canada, my retirement savings consists primarily of investments in mutual … read more
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My inquiry relates to the reporting on information on Lines
My inquiry relates to the reporting on information on Lines 10f, 11a and 11b of Form 8621 where a Section 1291 Fund PFIC stock is acquired and sold in the applicable tax year in multiple transactions.… read more
USTaxAdvising
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As I understand it, a gain on the sale of a Section 1291 Fund
As I understand it, a gain on the sale of a Section 1291 Fund (PFIC) stock purchased AND sold during the applicable tax year would be reported on Line 11b of form 8621 and on Line 21 (Other Income) of… read more
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