r2i forum

Dear Friends, Are there any references to good CA's in India whom I can take advice over phone or email. I am a USC and need to get some details about Indian Taxation Rules for investment purpose. Kindly, IM me or state the references over here, whatever works best for you. Appreciate your ...

Since you have not filed your 2016 taxes and keeping your above questions, I would recommend you consult with a solid CPA or take some attorneys advice. My 2 cents, peace of mind is more important and also helps with long term planning than trying to do work arounds. If you google "DESI FBAR/FATCA ...

1. Are there any other banks besides Citibank which issue 1099? This is because Citibanks service and rate of interest is simply horrible, compared to many others. 2. I wonder if bank has 1099-INT why is even FBAR a requirement. It is no different than say investing in a Bank of America or Wells ...

Dear Forum Members, 1. Can a US Citizen living in the United States, form a company in India for doing business investments? 2. If yes, any other specific further information on the rules of incorporating such a company? 3. Would this mean one has to file Form 5471 each year on the US tax return ...

Thank You.

Dear Rajesh/Forum Members, Can you please shed some light on how are LIC policies to be reported on US Income tax returns? Specifically, Lets say one has a policy which matures in 20 years but in between one receives installments/bonus as part of survival benefits. This installment(or bonus whatever ...

[QUOTE=okonomi;635412]If you read the instructions to the form 8621 or 8949, pay attention to the part "Who Must File ?" Some kwesins to think about.... What kinds of documents do you have that support the cost basis and the sale transaction(s) ? If the approximate sale proceeds are about 1 lakh ...

[QUOTE=greyfri;635469]Did you buy and sell in the same year ? If so, then you can use Form 8949. If not, it's more complex -- you pretty much have to use 8621 How have you been handling the funds earlier ? Have you been filing form 8621 and using M2M earlier ? If not, then you are supposed to use ...

[COLOR=#333333]Dear Forum Members, I have a question on reporting Mutual Funds on US Taxes. For a US NRI, holding mutual funds under 1 lac INR and have sold them recently, how does one report them on US Taxes?[/COLOR] [COLOR=#333333]Do they report it on Form 8621 -PFIC or use the normal Schedule D ...

Dear Rajesh,

For a US NRI, holding mutual funds under 1 lac INR and have sold them recently, how does one report them on US Taxes?
Do they report it on Form 8621 -PFIC or use the normal Schedule D(Form 8949)

Please advise at your earliest.

Thanks

Kumar