What information is required for U.S. personal tax returns?

1. Basic data

Have you ever filed a U.S. tax return:

Yes, please prepare U.S. tax returns for the last two years (1040 return, state income tax A copy of the declaration form).

□No, you can prepare tax return materials for the previous year and current year in the country of origin.

l If you are filing for the first time after obtaining the green card, please provide the time when you obtained the green card

l Records of entry and exit from the United States during the tax filing year:

l Declarant and dependents The person's English name, date of birth, social security number and English mailing address, identity (whether married, studying)

l Basic data changes applicable to this year:

(such as Marital status, or changes in dependent children or parents)

2. Income information

□EB-5 investment income: Please provide K-1 form (should be obtained from the immigration company)< /p>

□?Salary income: Please provide salary tax payment certificate, monthly salary details, company name and address in Chinese and English, and professional title (for U.S. sources, please provide W-2 or 1099 form)

□Rental income: Please provide the time of acquiring the house, cost (including fees), rental income, tax payment certificate, rental fee, house address, house type (commercial or residential), house owner, and rental start and end date

< p>□Interest income: English name of the bank, English address, account name, account number, annual maximum balance, currency, interest income, tax payment certificate, monthly statement (for US sources, please provide 1099-INT form)

□Listed dividend income: English name of the securities company, English address, account name, account number, annual maximum balance, currency, dividend income, tax payment certificate, monthly statement (for U.S. sources, please provide Form 1099-DIV)< /p>

□Private dividend income: company English name, English address, dividend income, currency, tax payment certificate, year-end net worth, shareholding ratio (for U.S. sources, please provide 1099 or K-1 form)

□Income from self-employment: income amount, expense details, whether to work at home

□?Income from investment or trading (referring to the sale of stocks, real estate, etc.): acquisition cost, acquisition date, sale price , sale date, handling fee, tax payment certificate, transaction statement, bonus allotment record (1099-B and/or/1099-S form)

□Others:

3. Assets Information

□? Overseas companies hold more than 10% of the shares: company English name, English address, company license, company articles of association, dividend income, currency, tax payment certificate, company's year-end financial report, shareholding ratio, company Income details (income from U.S. sources, income from transactions with related parties, income from passive investments)

□ Overseas company’s shareholding: 10% or less: company’s English name, English address, company’s year-end financial report, shareholding ratio

□Other assets or gifts::

IV. Common related expenses

A. Home loan interest□? Form 1098

B. Donation □ Donation receipt issued by the recipient institution in the United States

C. Medical expenses □ Hospital or medical expenses

D. Personal taxes □ State income tax, property tax, Or other taxes that can be reported and deducted during a specific period

E. U.S. university tuition fees □1098-T form and other payment information (check or credit card statement) (if you are studying at a non-U.S. university, you need to confirm with the school)

5. Comparison of the application of foreign earned income (Foreign Earned Income Exclusion) in different statuses

U.S. citizens or U.S. tax residents who are citizens of countries that have signed a tax agreement with the United States

Test method

Bona Fide Residence Test (BRT)

Conditions

A substantial overseas resident must have substantial overseas presence Residence

Factual determination

1. The person claiming the deduction should be able to prove that he has a residence overseas, his family members all live in the country of residence, and his political, business, social and economic relations are all in the residence. country.

2. The purpose and length of stay in the country of residence can be proved.

3. The period of overseas residence must last uninterrupted for an entire tax year (but no deduction is required for temporary or occasional absences).

4. Once the BRT is met, it will be deemed to be in compliance with the BRT and entitled to deductions for the entire year unless terminated. The deduction will be proportional to the year of termination.

Calculation method

1. Full deduction for continuing tax years

2. Termination year: (number of days in the termination year/total number of days in the year) × foreign labor tax exemption Income

All U.S. tax residents

Test method

Practical Presence Test (PPT, Physical Presence Test)

Conditions< /p>

Residing abroad for at least 330 full days in any 365-day/12-month period (full days means 00:00~24:00)

Factual determination

< p>1. Any 365-day/12-month period does not need to be consistent with the applicant’s tax year.

2. The 330 whole days do not need to be consecutive, as long as they are within the same 365 days/12 months.

3. In principle, formal determination is adopted. As long as the stay is at least 330 full days, the reasons and motivations for staying do not affect this calculation. In principle, this method is more stringent, so it is less controversial. If both test methods are met at the same time, it is recommended to use this method. Green card holders must apply for a white paper.

Calculation method

1. If the tax year is calculated as a continuous period of 365 days, the full amount will be deducted

2. If the tax year is not calculated, the deductible amount = (Number of days in the current year/365) × Amount of tax-free income from foreign services

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