South-western Federal Taxation 2018: Individual Income Taxes
41st Edition
ISBN: 9781337385886
Author: William H. Hoffman, James C. Young, William A. Raabe, David M. Maloney, Annette Nellen
Publisher: Cengage Learning
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Chapter 2, Problem 4DQ
To determine
Write a letter in response to Person S.
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Vivienne is a U.S. citizen, and she comes to you to have her taxes prepared. She tells you that she has signature authority over a foreign bank account, but the maximum value of this account never exceeded $10,000 at any time during the year. Vivienne does not have any other foreign assets, nor does she have any ties to a foreign trust. Although she worked abroad for three months during the year, you determine that her tax home was in the U.S. Given the information provided, which of the following forms would you complete for Vivienne? A, Schedule B, Interest and Ordinary Dividends. B, FinCEN Form 114 (FBAR). C, Form 2555, Foreign Earned Income. D, Form 8938, Statement of Specified Foreign Financial Assets.
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Jenny is a student from Sweden who comes to Australia to study for a four-year bachelor’s degree in business. Jenny lives in rental accommodation near the university with fellow students and works part-time at the university social club as a waitress. After six months, she has to withdraw from her studies and return to Sweden because her mother is unwell.Required: With reference to legislation, cases and tax rulings, advise Jenny whether she is a resident of Australia for tax purposes
Chapter 2 Solutions
South-western Federal Taxation 2018: Individual Income Taxes
Ch. 2 - Prob. 1DQCh. 2 - Why do taxpayers often have more than one...Ch. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Prob. 5DQCh. 2 - Prob. 6DQCh. 2 - Rank the following items from the lowest to...Ch. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQ
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