taxpayer surrender green card middle of last year and spouse kept green and move to foreign country. Taxpayer has partnership income in the U.S, and spouse is self employed. Please advise on the tax implication going forward. It determined that they will file joint for 2015 and part year resident of the U.S. Going forward should they both file separate 1040NR(s) to report income (taxpayer: Partnership Income) and (Spouse: Self Employed Income since she has not surrender her green card)
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You mentioned them filing 1040NR's so I take it these are people who have and had green cards but who live outside of the US? -
TC Case Topsnik opinion released 01-20-16
Might want to check out a recent tax court case,TOPSNIK v COMMISSIONER, 146 T.C. No. 1 (2016) which contains a detailed analysis of tax reporting requirements after a foreign national gives up their green card.
Surrendering the green card is not the end of reporting.Friends double; family triple. Don't buy an audit for yourself. If someone has to go to jail make sure it is the client. Remember it is only taxes, nothing important.Comment
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Green Card
May want to also review TTB Pp. 14-15 for their chart. Your scenario suggests that one of the parties has a green card, and as such, is considered a resident alien.Friends double; family triple. Don't buy an audit for yourself. If someone has to go to jail make sure it is the client. Remember it is only taxes, nothing important.Comment
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