| Author | Message | ||
     Jalsa Megastar Username: Jalsa Post Number: 21471 Registered: 02-2008 Posted From: 159.53.78.141 Rating: N/A |
Please go through what i posted earlier. | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 2826 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
mari ila choooste, FD maturity time vachaka total interest amount ki tax kattali kada IRS ki.?? | ||
| Andhrawala Megastar Username: Andhrawala Post Number: 29597 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
5 year depositi can be considered as 5 year bond. appudu maturity ante repatriate sesinappudu choopincchocchuu No Signature | ||
| Jalsa Megastar Username: Jalsa Post Number: 21460 Registered: 02-2008 Posted From: 159.53.174.145 Rating: N/A |
Unless you repatriate, how can you say it's a loss? Stocks ki kooda alaaney untundhaa? If you have not sold your stock units for profit, would you still pay capital gains tax? | ||
| Jalsa Megastar Username: Jalsa Post Number: 21459 Registered: 02-2008 Posted From: 159.53.174.145 Rating: N/A |
aa link lo unnadhi choodu, it says, interest is excluded from gain/loss...since it's actually not an investment. | ||
| Jalsa Megastar Username: Jalsa Post Number: 21458 Registered: 02-2008 Posted From: 159.53.174.145 Rating: N/A |
Here's the corresponding IRS link: http://www.irs.gov/publications/p17/ch07.html#en_US_2013_pub link1000171435 | ||
| Andhrawala Megastar Username: Andhrawala Post Number: 29595 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
its kind of tricky anukuntunnaa sent 10K for NRE deposit when USD is arnd 53. last year USD went nearly to 70. that time if u brought it back u will convert them for aroound 73 India lo NRE deposits ki high interest is basically becos of exchange loss and risk adhe USD deposit vesthe FCNR, interest rate is arnd 2% per year. no vconversion loss aithe reporting easy No Signature | ||
| Jalsa Megastar Username: Jalsa Post Number: 21457 Registered: 02-2008 Posted From: 159.53.174.145 Rating: N/A |
aa amount ki interest vasthuntey report cheyali. | ||
| Andhrawala Megastar Username: Andhrawala Post Number: 29594 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
https://ttlc.intuit.com/questions/1328465-can-i-deduct-a-for ex-loss-from-interest-earned-on-a-bank-deposit-in-a-foreign- currency-how No Signature | ||
| Ruj Hero Username: Ruj Post Number: 12676 Registered: 03-2007 Posted From: 170.202.122.2 Rating: N/A |
NRE account undi..less than 5k dollars unna kooda ikkada taxlo report cheyala?? | ||
| Jalsa Megastar Username: Jalsa Post Number: 21456 Registered: 02-2008 Posted From: 159.53.174.145 Rating: N/A |
Brother, adhi principal paina untundhi kadha and that too IF i repatriate. Interest meedha depreciation enti? | ||
| Andhrawala Megastar Username: Andhrawala Post Number: 29593 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
Jalsa ask abt the loss which u will incurr becos of conversion due to Forex fluctuation No Signature | ||
| Jalsa Megastar Username: Jalsa Post Number: 21455 Registered: 02-2008 Posted From: 159.53.46.142 Rating: N/A |
Ok, I talked to the turbotax Tax advisor. Here are his answers: 1) Did you have the ability to withdraw the amount/close the account without a penalty and loss of interest? If yes, then you have to report it. In my case, the NRE Rupee term deposit withdrawal before mandatory 1 yr is subject to penalty and loss of any interest. So, I don't have to report interest for 2012. 2) Was there any "substantial" penalty after the minimum period of 1 yr? If yes, then you don't need to report on 2013. In my case, the penalty was 1% of the interest rate. So 10% dhi 9% interest tho vachedhi, which is not substantial. So, have to report income earned from March 2013 to December 2013 with an average dollar exchange rate. Since I renewed my deposit this march, all the restrictions kick-in again. So, for 2014, I have to report the 2 months' interest. Hope this helps. Minimum intha interest (in USD) ayithene report cheyali ani untundhi anukunta ga. Anyone knows what's that amount? | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 2825 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
FD teesukunna janalu evaru lera ikkada? how r u filing returns? | ||
| Andhrawala Megastar Username: Andhrawala Post Number: 29585 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
my feeling FOREX investment laafga treat chesi final repatriation tharuvaatha profit/loss determine cheyyalemo anukuntunnnaa No Signature | ||
| Jalsa Megastar Username: Jalsa Post Number: 21451 Registered: 02-2008 Posted From: 159.53.46.143 Rating: N/A |
Adhey ardham kaavatledhu. "NRE term deposit account" ani undhi. Adhi FD aney kadha meaning? | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 2824 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
NRE/NRO accounts lo money unte interest vastundi and adi clear gaa account lo history untadi. but FD account is separate, there will be no statements (depending on the bank). what u see is how much ur FD worth now, and if u take out prior to maturity there will be penalties and if you take out before 12 months, there will be no interest returned (ex: open FD in June and end of the year calculate how much it is worth and pay the tax. and in feb next year u cancel FD, u get "0" interest and u get ur original money back...but u already paid tax to IRS for the money that u didnot receive). | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 2823 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
general gaa FD's ki monthly statements emi undavu emo?? after maturity, total earned money ki tax kadite saripoda??? | ||
| Jalsa Megastar Username: Jalsa Post Number: 21450 Registered: 02-2008 Posted From: 159.53.110.140 Rating: N/A |
oh man! ok...will have to talk to someone | ||
| Suga Junior Artist Username: Suga Post Number: 910 Registered: 01-2012 Posted From: 23.92.16.185 Rating: N/A |
Monthly statement lo interest report chesara? If so, then you must amend for sure. You can confirm with any CPA. Coolmac: post#23589# (regarding Kejriwal free water scheme) being educated, sorry I cannot support these populous schemes which collapses our economy... New_user: post#26489# Lokesh ni vallu positives kakunda, negatives cheppi promote chesukovala? Sasibabu: post#21678# PK kurrodi episode anthaa Mana mudham screenplay ani.... aa screenplay ki just memu fuel add sesaamani .... media world lo memu posina petrol segalu choosi yenaka yentha navvukunnamo thelisthe nuvvu vuri yesukuntaav le pani soodu arjunaa | ||
| Jalsa Megastar Username: Jalsa Post Number: 21448 Registered: 02-2008 Posted From: 159.53.46.143 Rating: N/A |
Naaku monthly statement laaga pampincharu aa bank manager. But, the term deposit was for 2 yrs and it expired this month. Andhukey doubt ga undhi, 2014 taxes lo file cheyala leka 2012 and 2013 aa ani. | ||
| Jalsa Megastar Username: Jalsa Post Number: 21447 Registered: 02-2008 Posted From: 159.53.46.143 Rating: N/A |
Vaallu ivvaru sarey, manamu annual interest report cheyaala leka on maturity aa ani. | ||
| Suga Junior Artist Username: Suga Post Number: 906 Registered: 01-2012 Posted From: 23.92.16.185 Rating: N/A |
Niku ye year interest pay chesthe a year file cheyyali annai. Ni bank statements lo clear ga untundi. If bank has paid you something in 2012 as per statement then yes you may have to file an amendment otherwise e year file chestunavu kada it's OK. NRE interest compulsory ga chupettali and also a FBAR report is must for any amount that is in excess of $10K at any point of time outside US. Coolmac: post#23589# (regarding Kejriwal free water scheme) being educated, sorry I cannot support these populous schemes which collapses our economy... New_user: post#26489# Lokesh ni vallu positives kakunda, negatives cheppi promote chesukovala? Sasibabu: post#21678# PK kurrodi episode anthaa Mana mudham screenplay ani.... aa screenplay ki just memu fuel add sesaamani .... media world lo memu posina petrol segalu choosi yenaka yentha navvukunnamo thelisthe nuvvu vuri yesukuntaav le pani soodu arjunaa | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 2822 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
let us say, u did fixed deposit on 2012 dec for two years and u filed tax returns based on the maturity amount. and after 6 months u needed money and u terminated the FD. so will u file amendment to 2012 returns to get money back??? IRS will not give a single penny. | ||
| Jalsa Megastar Username: Jalsa Post Number: 21445 Registered: 02-2008 Posted From: 159.53.174.145 Rating: N/A |
nenu adhey anukuntunna. If this is not correct, then I might have to amend my 2012 return. | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 2821 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
i guess next year. | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 2820 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
vachina interest amount report cheyali kada, so why loss?? interest report cheyali and if total NRI balance >10K(??) unte inka edo file cheyali june lopala. | ||
| Jalsa Megastar Username: Jalsa Post Number: 21442 Registered: 02-2008 Posted From: 69.112.152.149 Rating: N/A |
Principal amount repatriate Chestey loss. Interest oka 63k vachindhi 2 yrs lo as term expired this month. So ippudu ee interest income 2014 tax filing lo report cheyali not 2013, right? Oka vela dollar rate same untey, 10% vasthundhi ga | ||
| Andhrawala Megastar Username: Andhrawala Post Number: 29580 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
2012 lo USD value was around 53. so ippudu price around 63. covert sestheu will get loss No Signature | ||
| Jalsa Megastar Username: Jalsa Post Number: 21440 Registered: 02-2008 Posted From: 69.112.152.149 Rating: N/A |
Evariki idea ledha? | ||
| Jalsa Megastar Username: Jalsa Post Number: 21438 Registered: 02-2008 Posted From: 69.112.152.149 Rating: N/A |
Asalu idhi ela possible o ardham avatledhu, experts mee thoughts ettandi: 2012 lo oka 5K petti NRE term deposit account open chesaanu. I was under the assumption, the interest rate would be something like 2.25%. Just ippudey bank statements choostey, interest was 10%. identi babu ani call chestey, memu dollars lo unchaledandi, rupees ga convert chesaamu andhukey 10% interest rate annaadu manager. Now, this account is repatriable, so 10% just like that earn chesinattu kadhaa, assuming dollar rate is approximately same? Ippudu ee 10% deposit mature ayindhi kabatti, I have to report that amount as interest income in my US tax returns. | ||
| Jalsa Megastar Username: Jalsa Post Number: 21437 Registered: 02-2008 Posted From: 69.112.152.149 Rating: N/A |
Account 2012 lo opened, lucky ga, 2 yr deposit idhi....so ee year ye mature ayindhi and renewed last week. So next year ki ee income report cheyalaa leka 2013 kindhaki count avuthundha? | ||
| Jalsa Megastar Username: Jalsa Post Number: 21427 Registered: 02-2008 Posted From: 69.112.152.149 Rating: N/A |
sorry, it's a NRE account | ||
| Jalsa Megastar Username: Jalsa Post Number: 21425 Registered: 02-2008 Posted From: 159.53.110.141 Rating: N/A |
last year NRA account open chesaanu Karur Vysya lo. < 10K USD. Turbotax lo fill chestuntey it asked for Received income from discounted loans or had foreign bank accounts or trusts
ippudu aa NRA account interest report cheyaala? |
