2018年3月21日 星期三

從 LLP Partnership K-1 Schedule 發現侵侵萬稅之封鎖搏大霧

在剛過去的3月15日,相信各位 Interactive Brokers (IBKR.NASD,下稱 IB) 的用戶都已收到各自的 Form 1042-S,要退稅的便可以用來報稅,不喜歡或嫌麻煩或相關銀碼太少或唔識英文睇唔明手續的,基本上可以不理;而魔術師既然報開稅,當然就要計下值唔值得伸請退稅,反正Individual Taxpayer Identification Number (ITIN,見《假扮美帝公民入領事館做公證(2017)》)不拿白不拿,有效期至少三年:
報稅流程跟去年差不多(見《拒交陀地》系列相關文章),詳情另文再述;今次要講的是日前收到由 Invesco 旗下的 PowerShares DB Base Metals Fund(DBB.AMEX)寄來的 K-1 Schedule:

雖則話魔術師之前都收過所持有的帝股(例如 Facebook(FB.NASD) ) 與及  ETF 發行商的從美帝境內寄出的年報,知道 IB 會替魔術師的某些持股過戶(至於邊啲股票過戶,邊啲股票無過戶就真係無路可捉),不過收到 Partnership 形式的報稅表格倒是第一次,算是長了知識。
睇返上面張 form,講嘅都係教人點墳 Form 1040, 而唔係 Form 1040NR,即係假設咗魔術師係 Resident Alien, 而唔係 Non-resident Alien  (NRA):
Home > File > International Taxpayers > Aliens Which Form to File
Are you a Resident Alien?
Resident Aliens file Form 1040, 1040A, or 1040EZ like U.S. Citizens.
Are you a Nonresident Alien?
Nonresident Aliens file Form 1040NR or 1040NR-EZ.
諗落都有道理,事關基金公司無可能知道魔術師是否有綠卡或通過了 substantial presence test:
Home > File > International Taxpayers > Determining Alien Tax Status
If you are an alien (not a U.S. citizen), you are considered a nonresident alien unless you meet one of two tests. You are a resident alien of the United States for tax purposes if you meet either the green card test or the substantial presence test for the calendar year (January 1-December 31).
咁係唔係話 DBB 張 Schedule 1 是否可以不理呢?但魔術師兀自不安心,being a partner 算不算是有 Effectively Connected Income (ECI) 呢?於是再去查找 DBB 的 prospectus:
(圖片來源:POWERSHARES DB MULTI-SECTOR COMMODITY TRUST Prospectus, retrieved on 17 Mar 2018)
既然唔算係 ECI,咁就真係放下心頭大石,唔使填 ECI,亦唔需要 claim 退稅了(因為根本就無股息)。
不過,在查找資料期間,魔術師倒發現了一件很有趣的事:
Home > Publications > Publication 519 (2017), U.S. Tax Guide for Aliens
What's New
Personal exemption. For tax years beginning in 2017, the personal exemption amount is $4,050. Beginning in 2018, and continuing through 2025, you cannot take a deduction for a personal exemption for yourself, your spouse, or your dependents.



Chpater 5 Figuring Your Tax > Deductions > Nonresident Aliens

You can claim deductions to figure your effectively connected taxable income. You generally cannot claim deductions related to income that is not connected with your U.S. business activities. Except for personal exemptions, and certain itemized deductions, discussed later, you can claim deductions only to the extent they are connected with your effectively connected income.
咦?唔通侵侵發現咗有呆民開班教人搏大霧以個人免稅額退稅(見《揭開美帝股息免收陀地之謎》)?下年開始,美帝唔俾 NRA 以個人免稅額扣,今次真係碌葛末日矣!
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伸延閱讀:
揭開美帝股息免收陀地之謎
假扮美帝公民入領事館做公證(2017)

6 則留言:

  1. That means in the past you can file 1040 NR and claim US$4050 exemption, i.e. if your passive income is less than $4,050, you don't have to pay tax and can claim back your 30% withholding. Now you loss the exemption. And all amount previously withheld is subject to tax. Do I understand correctly?

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    1. //That means in the past you can file 1040 NR and claim US$4050 exemption, i.e. if your passive income is less than $4,050, you don't have to pay tax and can claim back your 30% withholding.

      Wrong. I have already expressed my viewpoint in my previous articles (read the reference section).

      Notice that "You can claim deductions to figure your effectively connected taxable income." The keyword is "Effectively Connected Income (ECI)". How come most people overlook (or intentionally ignore) this?

      When you file W-8BEN, you have already declared you are a NRA and you have no effectively connected income, so that in return you can "enjoy" 30% flat rate for dividend witholding tax and no tax on capital gain, blah blah blah... How can you now claim personal exemptions on your effectively connected income then? It is completely illogical

      You can only claim personal exemptions (before 2018) on your ECI and you need to file W-8ECI as well. It can work together with W-8BEN. You can read that part from my past articles.

      That's why I said the Taiwan guy Green Horn is cheating.

      For your information,

      Use the two tests, described next, to determine whether an item of U.S. source income falling in one of the three categories above and received during the tax year is effectively connected with your U.S. trade or business. If the tests indicate that the item of income is effectively connected, you must include it with your other effectively connected income. If the item of income is not effectively connected, include it with all other income discussed under The 30% Tax , later, in this chapter.

      Asset-use test.
      This test usually applies to income that is not directly produced by trade or business activities. Under this test, if an item of income is from assets (property) used in, or held for use in, the trade or business in the United States, it is considered effectively connected.

      An asset is used in, or held for use in, the trade or business in the United States if the asset is:

      Held for the principal purpose of promoting the conduct of a trade or business in the United States,
      Acquired and held in the ordinary course of the trade or business conducted in the United States (for example, an account receivable or note receivable arising from that trade or business), or
      Otherwise held to meet the present needs of the trade or business in the United States and not its anticipated future needs.
      Generally, stock of a corporation is not treated as an asset used in, or held for use in, a trade or business in the United States.

      Business-activities test.
      This test usually applies when income, gain, or loss comes directly from the active conduct of the trade or business. The business-activities test is most important when:

      Dividends or interest are received by a dealer in stocks or securities,
      Royalties are received in the trade or business of licensing patents or similar property, or
      Service fees are earned by a servicing business.
      Under this test, if the conduct of the U.S. trade or business was a material factor in producing the income, the income is considered effectively connected.

      You can search this part in Publication 519.

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    2. Thank you very much for your detailed explanation. So, it means that some people just take advantage before intentionally!
      So the conclusion is that if the 30% withholding tax is from a US company, no refund can be claimed. In fact, I owe stock of a European company listed in US, and Charles Sxxxxx does not withhold the 30%.

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    3. //I owe stock of a European company listed in US, and Charles Sxxxxx does not withhold the 30%.

      Witholding tax is only applicable to US Income. EU company listed in US eg HSBC will not be subject to witholding tax. It is a quite well know exemption.

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    4. 法垃利等法意股,又有其法蘭西或意大利買賣税

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    5. 係架,各國有各自的税項,但只要外國企業的主要收入來源不是來自美帝領土,MRA所收的股息都會免美帝withholding tax.

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