Hello, I’m struggling to figure out a few things on form 2047. I’m hoping someone could help me.
Where do I put capital gains from the US (I already paid taxes on them in the US). I read it was in section 2 but I don’t know specifically which line. Do I lump them in with Dividends or Interest or is there a seperate part?
My other question is line 204 of the dividend part or line 234 of interest. This is the tax applicable in France? If so, how do I know the rate?
Thank you to anyone who can help with this!
If no answer forthcoming, I would suggest a visit to your nearest Impôts and speak to them in person. They can be extremely helpful but do not expect them to speak english so a french speaker going with you if you are not good at thelanguage would be useful. At least then they would fill it out there and then and it is sorted.
If you are struggling with 2047… as @Shiba has already mentioned… a personal visit is probably the best route to take.
(As one person’s experience/situation is rarely the same as another…).
Declarations should already be submitted… all done and dusted…
So, if you are late making your Declaration, explaining your difficulties to the appropriate official, without any further delay… will stand in your favour.
The questions I asked are straight forward and should have the same answer every time so I was obviously looking for an answer other than go to the tax office. I’m going to go to the tax office but I want to know certain things before hand to avoid confusion as my french is limited when it comes to financial terms.
So if anyone can actually answer my questions that would be great!
Not necessarily straightforward and the answers may be different too - I find that it’s more a case of knowing what numbers to put in the boxes than which boxes. CGT treatment will be dependent on the applicable double tax treaty (DTT) and the France / American one may be different from the France / UK one?
I haven’t done any CGT in any case but I do declare interest and it goes in box 260 under ‘Interets et autres produits de placement à revenu fixe’ - assuming of course your DTT is the same as mine. Then to box 2TR on the 2042.
You declare the full amount of interest received. The ‘rate’ i.e. amount of tax will be calculated by the authorities.
There is also the issue that sometimes figures have to be entered in one box but also carried forward to another box in a different section.
Seriously, that is what the tax office staff are there for, to help people with their declarations.
Having submitted our declarations more than six months ago, most of us will by now have thankfully filed it away under “done”, so you will appreciate that we do not keep all of the cerfa numbers and line numbers and box numbers and tax rates from the current year’s tax exercise permanently etched in our heads. Although apparently @larkswood12 does, hats off to that person.
Most people on here are British or European, there are only a few Americans. So the tax treaty is not the same.
I’m also confused at to which year, as it is now way beyond deadline for 2022 and way too early for 2033. Some years box numbers are changed so that could also steer you in the wrong direction,
Dividends and Interest from bank accounts and brokerage accounts are I think the same UK or US. 1) convert all $ amounts to Euros using the IRS.gov exchange rate for that year; 2) Form 1040 Line 2b (interest) goes to box 2TR on Form 2047; 3) Form 1040 Line 3b (dividends) goes to box 2DC on Form 2047; the total INT + DIV goes to box 2BH on Form 2047
@Imoskalik in addition to others’ comments above, I’d also strongly advise you to make an appointment with your tax office ahead of doing your first tax declaration if you have this kind of question.
It’s the ideal time of year to do your preparation nd make an appointment. As the closer.we get to the March-May “tax season” declaration-completing window, the sooner will all the available appointments fill.up.
I’d do what you’re doing and prepare a draft approach based on last year’s forms, familiarize yourself with the USA-France treaty and how you think it should work in your case, and take all your documentation in a well organised folder to the meeting and ask your questions.
They’ll point out that the forms can change from year to year but should be able to tell you where to put your key items.
i wouldn’t do this in the UK - and I bet you wouldn’t in the US - but in France I won’t hesitate. Just sooner than later.