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How to file my taxes?
- Thread starter 2009
- Start date
Jackolantern
Registered Users (C)
You seem like you've never filed US taxes before. Is that the case? You need to file taxes not just for the years you had a green card, but also for the years you had an H1 or H4 or L1 or L2, or were in pending I-485 status, unless your income was below the threshold (around $8000 if you were not a dependent on somebody else's tax return). Unless you're due to get refunds, you'll have to pay late penalties and interest for 2007 and any prior years you didn't file.
Read IRS publication 514, which will tell you how to get credited for the taxes you paid to the other country, so you can avoid most or all of the double taxation. Then use tax software available from taxact.com, taxcut.com, or turbotax.com. But it can get complicated due to the foreign tax issues and those software may not do what you need, so you may want to contact a firm that specializes in multi-country taxation.
Read IRS publication 514, which will tell you how to get credited for the taxes you paid to the other country, so you can avoid most or all of the double taxation. Then use tax software available from taxact.com, taxcut.com, or turbotax.com. But it can get complicated due to the foreign tax issues and those software may not do what you need, so you may want to contact a firm that specializes in multi-country taxation.
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Jackolantern
Registered Users (C)
If you are a single permanent resident or citizen, and not a dependent on somebody else's US tax return, and you were not self-employed, and your worldwide income was less than approx. $8000*, and you didn't sell any real estate, you are not required to file a US Federal tax return (unless you meet one of the rare exceptions that I don't remember).If I haven't earned anything in the U.S. nor anywhere else, do I still need to file tax returns?
However, the threshold to file a state tax return may be much lower. You'll have to check with your state if having zero income (including interest from a bank) requires you to file a state return (I doubt it would).
*I don't know the exact figure, it increases slightly each year so it could be close to $9000 now
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Jackolantern
Registered Users (C)
See IRS publication 519.if I bought a house 10 years ago, and sold it at a profit (if calculated in my country's currency), but at a loss if converted to USD (due to weakening of my country's currency), do I still need to pay capital gain tax? Is it considered a capital gain or loss?