r2i forum

I just sent a request for extension letter because I did not have any other documents with me and only 1 day before the deadline.

Apllied for extension on 8th september..Letter reached them on the 9th. Haven't heard anything yet.

[QUOTE=greyfri;410289]1) Yes 2) Normally, you are supposed to put dividends separately on Schedule B and pay tax at your regular rates. The amount re-invested gets added to your basis. But unless you're talking really large sums, I'd say do it the way you mention since its simpler -- the IRS can ...

Greyfri,

I sent my ovdi extensin letter to reach them on sept 9 as i found out about all this stuff on september 6. Do you know if we are supposed to wait for some clearance before sending the complete package or can I sent it anytime in 90 days? Thanks

have you gotten any response yet? Do you know if we are supposed to wait for something before we send in the completed package?

[INDENT]Guys, please help with this for mutual funds (pfic) calculations for ovdi. 1. mutual fund start value is 1000 and end value is 1200, then I add .2*(1200-1000) = 40 as tax to my orginally filed tax for that year 2. mutual fund start value is 1000 and end value ICLUDING DIVIDEND IS 1200, then ...

Guys, please help with this for mutual funds (pfic) calculations for ovdi. 1. mutual fund start value is 1000 and end value is 1200, then I add .2*(1200-1000) = 40 as tax to my orginally filed tax for that year 2. mutual fund start value is 1000 and end value ICLUDING DIVIDEND IS 1200, then again I ...

[QUOTE=xyz1398;410032]For PFIC max value, use max NAV for the year multiplied by number of units held. Time consuming though.[/QUOTE] Thanks xyz1398...to continue on this..how about 2008 when the max values were in the early part, but through div reinvestment, the max units were towards the end of ...

From the IRS website: What does “maximum value of account” mean (for Box 15 on the FBAR)? A. The maximum value of account is the largest amount (not the average amount) of currency and nonmonetary assets that appear on any quarterly or more frequent account statements issued for the applicable year. ...

Zyzy,
I'm in VA