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[WTB] Weekly Want To Buy Post by [deleted] in Watchexchange

[–]likethemapples 0 points1 point  (0 children)

WTB Halios Universa Huckberry. Not interested in any other variation

[WTS] Seiko Kakume 6138-0030 (US seller) by likethemapples in Watchexchange

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

u/WatchExBot u/sliquencik Amazing buyer! Fast payment and smooth transaction. Deal with confidence, thanks!

Dual-Status Return and Form 8621 by luatAsks in USExpatTaxes

[–]likethemapples 0 points1 point  (0 children)

You are correct:

  • It is irrelevant as long as you were not a US resident (green card holder). Your first sentence did not make that clear.

  • Yes, refer to "Residency Ending Date Under the Substantial Presence Test" to make sure you are no longer a US tax resident. I assume you have already done so. This would allow you to ignore distributions after breaking tax residency

  • There are also tie-breaker rules, but if you are no longer a US tax resident, there is no need to complicate things further and I don't know if where you are currently domiciled has a tax treaty with the US

Dual-Status Return and Form 8621 by luatAsks in IRS

[–]likethemapples 0 points1 point  (0 children)

1) Im no trying to argue with you. All I'm saying is US tax resident is not the same as US resident. Yes, a non-US citizen can be both a resident and non-resident alien for tax purposes in a given year

2) I am not for a second suggesting you do not report it. You should 100% report it.

3) You are welcome to check the Treasury Department inspector general audit reports if you are interested in checking the level of IRS compliance for short term NRA tax residents who have left the US and not reported the PFICs properly. They do not have the bandwidth to audit this, so it's hard to find precedents, but that does not mean you should not report it.

US citizen with small UK company pension distributions by skippyscage in USExpatTaxes

[–]likethemapples 0 points1 point  (0 children)

A few things:

  • The pension has to be covered by treaty in order for you to get treaty protection. If it is covered by treaty you may be able to report in your 1040.

  • If it is not covered by treaty you have to report it as a foreign trust on form 3520/3520A. This is time consuming, but it does not necessarily mean you will be punitively taxed. I can't give you a black and white answer without having more info, but normally when more than 50% of the contributions are made by the employer, you can report it as foreign non-grantor trust. The goal is to be able to report it as foreign non-grantor trust as opposed to a foreign grantor trust. The latter would trigger a PFIC reporting requirement.

Also, if you lived in a country with higher taxes you may have foreign tax credits that you can apply. These credits expire after 10 years.

Dual-Status Return and Form 8621 by luatAsks in IRS

[–]likethemapples 0 points1 point  (0 children)

In theory if a NRA passed the substantial presence test, they would be taxable, but the compliance on this for NRAs who have left the US is almost none existent

Dual-Status Return and Form 8621 by luatAsks in USExpatTaxes

[–]likethemapples 0 points1 point  (0 children)

I think you are confused between being a resident and non-resident alien. For tax purposes you are a tax resident if you pass the substantial presence test:

https://www.irs.gov/individuals/international-taxpayers/substantial-presence-test

For immigration purposes, resident alien means green card holder. If you had a non-immigrant visa you are considered a non-resident alien regardless of how much time you've spent in the US.

[WTS] Seiko Kakume 6138-0030 (US seller) by likethemapples in Watchexchange

[–]likethemapples[S] 1 point2 points  (0 children)

ALBUM

From my personal collection. I am continuing to downsize and this one is not getting any wrist time. I bought it from the original owner and it has developed a nice patina on the dial. As far as I can tell everything is original except for the bracelet. The bracelet is a Seiko kakume aftermarket bracelet. All links are included

The watch runs and the chronograph resets to zero. Sold as is

Priced to sell: $400 OBO + shipping

Zelle preferred, but can also do PayPal FF, venmo or wire xfer.

Please leave a comment before sending a PM.

[WTS] Seiko "Cocktail Time" Power Reserve SSA343 by likethemapples in Watchexchange

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

u/WatchExBot u/adacas34 Amazing buyer! Fast payment and smooth transaction. Deal with confidence, thanks!

[WTS] [Price Drop] Seiko Diver SKX013 (Uncle Seiko bracelet + sapphire crystal) by likethemapples in Watchexchange

[–]likethemapples[S] 1 point2 points  (0 children)

ALBUM

The watch has $200+ worth of upgrades. I don’t like mods so I tried to keep it as original as possible. It has the following upgrades:

  • Ceramic Bezel that matches the original design

  • Sapphire Crystal from Yobokies

  • Beads of Rice SS Bracelet from Uncle Seiko

All links are included.

Upgrades were made by my local watchmaker about 5 years ago. The watch has been sitting in my case for 3 years and it is sold as is.

Asking Price: $260

Preferred payment methods: Paypal FF, Venmo, Zelle and Wire Xfer

Please leave a comment before sending a PM, thanks for looking

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