r2i forum

[QUOTE=greyfri;401296]I can't imagine why the asset sum would be included. In fact, it may even (speculating here) be possible to get the deposit in India from your parents in that account excluded if you can show that the sum came from your parents accounts, and that interest on this joint account ...

[QUOTE=xyz1398;401163]If the asset is bought with tax sourced income, no need to include that asset. If the asset has some income on it, and if it is in your name, then FMV should go for penalty calculation.[/QUOTE] The fund I sent is after tax in US. The money my parents deposited is after tax in ...

[URL="http://www.r2iclubforums.com/forums/member.php/39307-greyfri"][B][COLOR=navy]greyfri or anyone else who knows about it, please help ![/COLOR][/B][/URL] in case of a joint account with parents back in india, where I sent a small amount of money from US as gift (within gift limit), parents ...

I have two questions:- 1. If one owns a real estate that is fully tax compliant( bought with after tax fund and has not generated any income yet) in addition to a bank account that is non-compliant, while participating into OVDI 2011, does he have to also disclose the real estate asset as well or ...

Hi KKAssociate, Need some help understanding how the base asset value is determined for OVDI penalty. If someone (US person) had a joint account in india with his father (non US person), Just a joint account with no primary/secondary designation. Is his share of the balance considered 50% of the ...

Having a nightmare ever since I heard of this. Seeking some advice from KKA. I opened a joint account with my father (who is non-US person) in 2008 to facilitate some money transfer (about $20k) to pay for some renovation work on my house I had previously bought (all with after tax money, house has ...