r2i forum

Hi, I have two questions related to my US tax: 1) I have rental income in India which is deposted to my NRO account. I understand that I need to report this to IRS. My question is whether I need to declare this as "Interest and Dividend" (1099 INT)? 2) I have FD's in my NRO account which are more ...

Hi, I purchased 99.272 shares of VTSMX on 12/28/05. I sold on following dates: Sold 51 Shares 1/8/[B]06 [/B] Sold 40 Shares 2/16/[B]06[/B] I am using FIFO for cost basis. I will have to enter two Sell transactions in Turbotax and I will have to specify the purchase date also. My question is when I ...

Thanks Bobus for your reply.

Regarding Rental income, I may be filing Income Tax return in India as the annual rent exceeds the IT limit. Do I get any relief in my US tax return if I pay tax in India?

Thanks in advance.

SK

Hi, I have NRE and NRO account. For NRE account, I receive 1099 from Citibank but for HDFC NRO account, I will not receive 1099. FYI, I am on H1B and US resident for tax purpose. Couple of questions 1. As I understand, I have to report this income in my US tax also even though I will not receive ...

OK..I guess I should post this question to "My Simple / Silly US Tax question".

^Bump.

SK

Hi, I have NRE and NRO account. For NRE account, I receive 1099 from Citibank but for HDFC NRO account, I will not receive 1099. FYI, I am on H1B and US resident for tax purpose. Couple of questions 1. As I understand, I have to report this income in my US tax also even though I will not receive ...