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Soul Mates

Nonresident tax information

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Filed: K-1 Visa Country: Brazil

I filed a tax extension and would like to do MFJ for 2013 but I am confused about what information I need to report for my husband's account. I'll be making the choice to have my husband considered a resident for tax purposes to file jointly and the account in question is based in the US for nonresidents only so he didn't receive a tax form. The account is a Merrill Lynch CMA account and it is owned by his parents but his name is also on it. The CMA account has mutual funds and cash that can be withdrawn with a debit card, his dad occasionally transfers some money from the mutual fund to cash. I have the December 2013 statement with YTD information but I don't know what needs to be reported. Does the amount that gets moved from mutual fund to cash need to be reported? Would that amount be listed under Security Sales/Credits? If it needs to be reported how exactly do I do that? What form would we have gotten if he was a resident? Right now I have interest reported as if it was on a 1099-INT and the account shows no dividends. Thanks!

Edited by Soul Mates

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