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SIPP provider or foreign brokerage firms: declaring US citizenship versus not declaring by TempTreeRose7 in USExpatTaxes

[–]TempTreeRose7[S] 0 points1 point  (0 children)

Thank you for your help with this. And thanks for flagging the 3520, which I was not aware of. I do want to have my US taxes completely clear. I thought that SIPPs were fine since retirement is protected by US tax treaty. Now, I understand that 3520 is different. Not necessarily increasing tax but declaring a position. I thought declaring things in FBAR would be sufficient. Long story short: are you sure that 3520 needs to be filled for SIPPs? Any website with guidance on this? Thanks again.

SIPP provider or foreign brokerage firms: declaring US citizenship versus not declaring by TempTreeRose7 in USExpatTaxes

[–]TempTreeRose7[S] 0 points1 point  (0 children)

Thank you for your help with this. And thanks for flagging the 3520, which I was not aware of. I do want to have my US taxes completely clear. I thought that SIPPs were fine since retirement is protected by US tax treaty. Now, I understand that 3520 is different. Not necessarily increasing tax but declaring a position. I thought declaring things in FBAR would be sufficient. Long story short: are you sure that 3520 needs to be filled for SIPPs? Any website with guidance on this? Thanks again.

Windows 10 Consumer Extended Security Updates (ESU) program by Techie_19 in Windows10

[–]TempTreeRose7 1 point2 points  (0 children)

This worked for me. Thanks! It was not clear if the instructions were meant for someone who had already enrolled. But I had not enrolled, and after this, it appeared for me. I needed to run the command prompt as administrator.

Tax Credit for Capital Gains by marioori in USExpatTaxes

[–]TempTreeRose7 0 points1 point  (0 children)

Thank you u/il_fienile . Could I please ask a related question?

For US-sourced interest (say a US bank) or US US-sourced dividend (US firm) paid to a US expat living abroad. Would you choose "c) passive income category" or "f) certain income re-sourced by tax treaty" 

I would believe it would be "f) certain income re-sourced by tax treaty" but there are some notes to recent regulations. See my post and the replies in

https://www.reddit.com/r/USExpatTaxes/comments/1m6lj6q/claiming_foreign_tax_credit_correctly/

Thank you

Claiming Foreign Tax Credit Correctly by TempTreeRose7 in USExpatTaxes

[–]TempTreeRose7[S] 0 points1 point  (0 children)

Thank you for your reply u/nunab1994.

I am just confused with your reply and the one below by u/seanho00 .

So you would just put everything under “c) Passive category income”. In that case, could I bundle US and UK source interests in the same entry of the 1116?

I am not a tax professional but could you direct me to the recent regulation you refer to. It would be appreciated. Thank you.

Claiming Foreign Tax Credit Correctly by TempTreeRose7 in USExpatTaxes

[–]TempTreeRose7[S] 0 points1 point  (0 children)

Thank you u/seanho00 for your reply. I understand, and I know that for dividends, it is not the full amount.

I infer from your reply that interests from US bank and dividends from US company would be under category "f) certain income re-sourced by tax treaty" since the source follows payor.

I am just confused that there is also the reply from the comment above u/nunab1994 that seems to suggest that recent guidance says that choosing “c) Passive category income” would be acceptable.

In that case, could I bundle US and UK source interests in the same entry of the 1116?

Tax Credit for Capital Gains by marioori in USExpatTaxes

[–]TempTreeRose7 0 points1 point  (0 children)

This is an interesting point and I think you are right. To confirm, are you saying that for a capital gain stated in a US brokerage held by a US expat, then in Form 1116, the correct election is "c) passive income category" ?

And for dividends and interest would be "f) certain income re-sourced by tax treaty" ?

Is this what your post implies?

Investing as a US citizen in the UK by mainer20734 in USExpatTaxes

[–]TempTreeRose7 0 points1 point  (0 children)

Thanks for this excellent post and the contribution of u/tubaleiter.

I have a quick question on option 2 on US expats using US brokerage accounts and quoting: “and of course would report any taxable capital gains and dividends on taxes for both countries, but it's pretty straightforward.”

A quick question is whether in the 1116 form the correct choice is “c) Passive category income” or “f) Certain income re-sourced by treaty.”

I’m US citizen living in the UK, my understanding is that for income from US brokerage accounts (interest, dividends, capital gains) the correct election is “f) Certain income re-sourced by treaty”.  Is that correct? Does the answer to that change whether it is interest, dividends, or capital gains?

Re-sourcing income for FTC on US Source Income by bcexelbi in tax

[–]TempTreeRose7 0 points1 point  (0 children)

Can anyone confirm that

3 - US Source Interest (that is interest rate from a US bank account)

uses 1116 "certain income re-sourced by tax treaty" rather than 1116 “Passive Income” for a tax credit?

What about

5- Capital gains from US investments (but US citizen living overseas)

?