Recent content by cipocip

I actually don’t think that moving forward, the price will continue to drift down as a general rule. If you study MMP for instance, you will see that they have actually grown their earnings and distributions over time, year after year, while their price went down. Projections for the next 30...

Ok, thanks, I see. If something looks too good to be true in the investment world, it probably is.

All right, thanks for all the answers.

I understand the difference. Even though I have never filed anything involving K1, I imagine it’s easy enough using Turbotax. Even though it may take longer. For a foreigner living abroad, the difficulty is such that only companies and very rich individuals would afford to figure it out for...

Lets take Turbotax. It doesnt handle 1040NR! However, it has a partnership with Sprintax to do that. But Sprintax doesn't handle schedule K1. So, there is this problem. I also need the software to be able to submit everything online, because regular mail is not reliable, especially during covid...

It’s not a matter of cost for me. For a US person, the filings would be easy and worth it. Yes, people see a ticker on robinhood and buy a fractional share for one dollar, and then realize one year later they have to spend 100 to get the premium filing software.

I decided to stay away from mlp’s. It’s too hard to file from abroad. If I’ll ever have 100 million, I’ll invest in them and pay a US firm to file for me. Only have have to find out who Nicolas Cage’s accountant firm was, to stay away from that one.

Well, I dont use any software for US taxes because all my investments are in regular US companies, that don’t require any filing on my part. However, I can check the capabilities of each software online, and it seems they can’t do what I want (they list what forms they can handle). I am not...

Yeah, ok, I am sure that businesses can hire a firm to do that, but for a common retail investor like myself, it’s just too much. Are you saying that Turbotax Business can do it for foreign retail investors? It’s software + online filing or bust. That’s why I wondered if there were any legal...

It’s 37% actually, the highest bracket. The thing is that the witholding doesnt apply to capital gains on sale, which, unlike capital gains on regular stock, may have to be filed in the US, too. Also, I dont think that the withholding is directed to the states for state tax. Tax people in my...

Hi, I am a foreign investor, interested to buy some mlp (master limited partnership) units through a broker. I know that a distribution tax is withheld. Filing US taxes is difficult for a foreigner since no tax software is set up to handle both 1040NR and schedule K-1. Also, I cannot open an...

Ok, thank you for your answers (I haven't filed anything myself, the broker takes care of the witholdings automatically, too bad I cannot get official IRS proof for my local tax authorities without an ITIN).

Thank you for your answer. However, look at a sample 1042-S, and you will see that there is something called FTIN. Quoting from the IRS website "If the sole purpose of supplying a TIN is to request treaty benefits, the recipient’s Foreign TIN can also now be used to identify the recipient that...

Hi, I'm a non-US person living abroad, my US stock broker witholds taxes and submits the 1042-S form anually, and this form has my FTIN (foreign tax id number) on it. Since I only have a FTIN, is there a way for me to get the official tax transcript mailed to me by the IRS? Can I use form...