Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

I just got my card last September, and entered US for first

Customer Question
i just got my green...
i just got my green card last September , and entered US for first time first week of September and stayed 11 days and traveled back to my country
how i should fill may 2015 tax file , i have GC only for 4 months .shall i fill the same for the whole year or only the last 4 months and how i can calculate the foreign income and house exclusion
and in case i give up my green card coming April , how my tax file will be look like . i'm considering the 2555 form to deduct the foreign income and house
and do we have a way to keep my GC without paying tax like filling nonresident
Submitted: 11 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 1 minute by:
11/28/2016
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,331
Experience: Certified Public Accountant
Verified

Hi, my name is Mark. I will be happy to help you with your questions. Please give me a moment to prepare your response.

Ask Your Own Tax Question
Customer reply replied 11 months ago
Thank Dear , please let me know also if i can deduct any other expenses other than house and foreign income , and what if i didnt fill these four months tax (from September till December ) , can 2016 be my first tax year
Customer reply replied 11 months ago
Married with two kids , and can you please share how to calcute my tax if my housing rent is 45000 USD and total income is 176000 USD and any other deduction i might use
Customer reply replied 11 months ago
Dubai UAE
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

I apologize I had to step away from the computer. I am working on your request. Please give me a few moments.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

You are earning the income in Dubai?

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

You are considered a resident if you meet the test for a lawful permanent resident. This is known as the green card test.

If you meet the green card test at anytime during the calendar year, but do not meet the substantial presence test for that year, your residency starting date is the first day on which you are present in the United States as a Lawful Permanent Resident.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

You started your US residency in September and then started working in Dubai?

Ask Your Own Tax Question
Customer reply replied 11 months ago
im already working in duabi starting from Jan 2016 , but traveled to us in September to receive the green card for 11 days(lottery visa) and came back t dubai
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

Since you do not meet the substantial presence test you residency would start in September. So the income you earned from September to December would be taxable in the US.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

The foreign earned income exclusion is $101,300. To qualify for this you would need to meet the substantial presence test. This means that you would need to reside in Dubai for 330 days during a 12 month period.

Ask Your Own Tax Question
Customer reply replied 11 months ago
how I fill the tax from September till December , shall I calculate the income only for these four months and deduct the allowances (income exclution and housing ) after divided on 12 month and into 4 monthsPlease show me the calculation example in details , also Will it be the same case in case I give up my green card in April
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

Yes, you would report the income that you receive from the time you received the Green Card to the end of the year. If you qualify for the foreign earned income exclusion you would be exclude this income. If you give up your Green Card in April you would recognize the income from January to the time you give up your Green Card. You would be able to exclude the income if you qualify for the foreign earned income exclusion. One way to qualify is to meet the physical presence test. To do this you would need to have lived in the foreign country for 330 days in a 12 month period.

Ask Your Own Tax Question
Customer reply replied 11 months ago
how income exclusion and house allowance Will be calculated in case of this scenario (assuming I Will be out of us for more than 300)
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

To claim the foreign earned income exclusion, the foreign housing exclusion, or the foreign housing deduction, you must have foreign earned income, your tax home must be in a foreign country, you must meet either the Bona Fide Residence or Physical Presence Test, and you must make a valid election.

This would be claimed on form 2555.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

I hope you found this information to be beneficial. If this answered your question please take a few moments to rate my response. A rating is needed in order for me to receive credit for helping you today. The rating bar is located at the top of the page – ranging from 1 to 5 stars. If you need me to clarify aspect of my response or if there are additional areas of the question that you would like me to consider please let me know. I would be happy to continue the discussion. It has been my pleasure helping you today.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

I hope you found this information to be beneficial. If this answered your question please take a few moments to rate my response. A rating is needed in order for me to receive credit for helping you today. The rating bar is located at the top of the page – ranging from 1 to 5 stars. If you need me to clarify aspect of my response or if there are additional areas of the question that you would like me to consider please let me know. I would be happy to continue the discussion. It has been my pleasure helping you today.

Ask Your Own Tax Question
Customer reply replied 11 months ago
Thank you Dear , but I still looking for my tax calculation (estimated) in case I gave up my green in coming April for 2015 and 2016 tax. And in case I gave it up coming month (Dec 201) with assumption that I Will meet the 330 days outside us in both cases by coming AugustThanks
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

In your prior post you mentioned that your total income was $176,000. I am assuming that this is one an annual basis. This would make your monthly income roughly $15,000. So if you have a green card since September your US income would be approximately $60,000. If you meet the 330 day requirement you would be able to exclude the entire amount of the foreign earned income for 2016. If in 2017 you give up your green card in April, the same type of situation would apply. Again you would have about four months of income or approximately $60,000. If you again qualify for the earned income exclusion you would be able to exclude just over $101,000 of foreign earned income. So again you would not have any tax liability.

Ask Your Own Tax Question
Customer reply replied 11 months ago
Thanks you Dear, but for $101,000. Shall I divided by 12 months and get the four months value or I can exclude all of them out of the for months . And what about the personal , house allowance and family deduction (16,000)Please need clear example with number for my case for both scenario (December and April ) . This Will help to decide shall I give up my card in which month or keep itAnd what about the child card deduction . Can I deduct the same and how much
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

The amount of the exclusion would be prorated based on the number of days you worked in the foreign country. So the so the $101,000 would need to be multiplied by the percentage of the time you were in the foreign country . So if you obtained your green card September 1st you would have 1/3 of the year for the prorated exclusion. So your exclusion would be a little more than $33,000. So your taxable income would be $60,000 less the $33,000 or $27,000. You would reduce your taxable income by the standard deduction of approximately $12,000 and the personal exemption amounts of approximately $4,000 per individual or $16,000 (assuming that you had two children). This would decrease your taxable income to zero. If you give up your green card in April the calculation would be very similar.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

Please give me a moment I am verifying the qualifications of a green card holder claiming a child as a dependent.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

To qualify for a dependent exemption your children would need to be U.S. Citizens or resident aliens. If you are working abroad you would not meet this qualification. To file married filing jointly you would need to include your wife's income on your return.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

You would be looking at a small amount of taxable income. The income would be taxed at the 10% tax bracket. So at a taxable income of $7,000 your tax would be $700.

Ask Your Own Tax Question
Customer reply replied 11 months ago
can you please recheck the tax bracket , as US expat Tax using (stacking rule tax) , that is mean i will be using higher rateplease check the attached screen shoot
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

I need to step away from my computer for a few minutes. I will look through the file and let you know.

Ask Your Own Tax Question
Customer reply replied 11 months ago
Hi Dear , I'm still your advise on the above inquiries and the attached screen shoot for my calculation
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 11 months ago

Yes, you have a little bit of a unique situation. The tax software that I use was not able to handle this situation. I am still researching this for you. I apologize for the delay. I will work on this today.

Ask Your Own Tax Question
Ask Mark Taylor Your Own Question
Mark Taylor
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,331
2,331 Satisfied Customers
Experience: Certified Public Accountant

Mark Taylor is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,310 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

13,695 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
Suppose my taxable income in 220,000 this year and the tax
Suppose my taxable income in 220,000 this year and the tax rate is X up to 200K, but Y for 200and over, do I pay Y on the full 220K or just that above 200K? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
A foreign individual is a member of a US LLC. Are there any
A foreign individual is a member of a US LLC. Are there any extra requirements for filing when it comes to the partnership return?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,473 satisfied customers
Does a non-resident alien need to file a tax return on
Does a non-resident alien need to file a tax return on interest income received from a US business loan?… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
1099-R with distribution code 3. Can I get an earned income credit?
If someone receives a 1099-R with a distribution code 3, can they qualify for earned income credit? The person receives his pension because he became disabled.… read more
Bizhelp
Bizhelp
Certified Public Accountant (CPA)
Bachelor's Degree
638 satisfied customers
RE: FOREIGN TAX CREDIT We're filing a married joint filing
RE: FOREIGN TAX CREDIT We're filing a married joint filing tax return and have come up against some problems on form 1116. 1) Do we add both our names on the form? 2) On line 3a, it asks for certain i… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,473 satisfied customers
We have been filing income taxes as married, filing jointly,
Hello My name is*****: What state are you in? It matters because laws vary by location. Customer: We have been filing income taxes as married, filing jointly, in California … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I (US person) own 50% in a foreign partnership (real estate
I (US person) own 50% in a foreign partnership (real estate partnership under civil law (GbR) in Germany), the other 50% are held by a none US person. - I have rental income from the foreign partnersh… read more
taxmanrog
taxmanrog
Master\u0027s Degree
698 satisfied customers
Client (US resident) with foreign salary and taxes paid in
Client (US resident) with foreign salary and taxes paid in foreign currency - Part II of 1116 form for some reason adds taxes paid only in US $ (line "o" through "r") - it does not take taxes paid in … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have prepared my return for 2016 using h&r block software.
I have prepared my return for 2016 using h&r block software. However, I have one question on how to properly account for AMT adjustment. I bought some stock options in 2015, and because my option pric… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
Us citizen living and working in colombia SA earned income
us citizen living and working in colombia SA earned income and unearned how do i report the interest and dividends are these tax at he same rate or can you also exclude them like the earned income … read more
Chad CFP ®
Chad CFP ®
Certified Financial Planner(R), Pro
Master\u0027s Degree
734 satisfied customers
A Nonresident Alien just took steps towards becoming a a
A Nonresident Alien just took steps towards becoming a a U.S. Permanent Alien in June 2017. He is an airline pilot with a tax home in Hong Kong. He has a Mandatory Provident Fund established with the … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
Child tax credit: Taxpayer work oversea. the spouse is
Child tax credit:Taxpayer work oversea. the spouse is nonresident alien. Taxpayer file as married filing separately and claim the son as dependent. Can the taxpayer claim the child care credit or the … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
Foreign earned income tax exemptions. My husband started
foreign earned income tax exemptions. My husband started working in the UAE in February 4, 2017. How many days is he allowed to physically visit the USA in a 12 month period to be qualified for the ex… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
I need help preparing Form 2555 having multiple employers,
I need help preparing Form 2555 having multiple employers, different countries … read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
285 satisfied customers
My friend is a nonresident alien student in the US. If he
My friend is a nonresident alien student in the US. If he receives a wire transfer from his home country, am I correct that is nontaxable income, and does it matter whether the money comes from his ow… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
When utilizing the foreign earned income exclusion and
When utilizing the foreign earned income exclusion and housing deduction on Form 2555 and coordinating with the Form 1116, the foreign tax credit must be reduced a formula for prorating tax credit ava… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
Regarding Form 1040NR US nonresident alien income tax
regarding Form 1040NR US nonresident alien income tax return: where do you report U.S bank interest on the form… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
If I am eligible for Foreign Earned Income Exclusion as per
If I am eligible for Foreign Earned Income Exclusion as per IRS Regulations under the Bonafide Residence Test and I claim it, will it have an impact on my Green Card? I am from India and Indo-US Tax T… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x