Honestly the 60,100€ exemption you mentioned sounds like the Beckham Law (Special Impatriate Tax Regime), but I don't think you'd qualify based on what you described. You need to be moving to Spain specifically because a Spanish company hired you or your foreign company formally transferred you there. Working remotely for a US company usually doesn't qualify unless there's an actual formal assignment letter and the company has some presence in Spain.

I'm actually going through something similar right now - dual citizen planning to move to Madrid while keeping my US job. One thing I haven't seen mentioned is the timing aspect. Since both countries use calendar years, you'll want to be really careful about when you establish Spanish tax residency within the year. If you move mid-year, you might be able to split your tax obligations - paying US taxes on income earned before becoming a Spanish resident, and then dealing with the treaty provisions only for the period after establishing residency. This could potentially simplify your first year's filings. Also, don't forget about state taxes if you're currently in a state with income tax. You'll need to establish that you've truly severed ties with your home state to avoid triple taxation (federal, state, and Spanish). Some states are notoriously aggressive about claiming you're still a resident even after moving abroad. Have you considered consulting with a tax advisor who specializes in US-Spain cases? The treaty is complex enough that the cost of professional help often pays for itself in avoiding mistakes.

Quick tip for anyone with capital loss carryforward - remember that you need to use short-term losses first against short-term gains, and long-term losses first against long-term gains. Only after that can you use remaining losses of either type to offset the other type of gain. Then use up to $3,000 against ordinary income. The ordering matters for tax optimization.

One thing that's really important to understand is that capital loss carryforwards don't expire - they can be carried forward indefinitely until fully used up. This is different from some other tax provisions that have time limits. Also, if you're married and file jointly, both spouses' capital losses get combined on the joint return. But if you switch from married filing jointly to married filing separately (or vice versa), the carryforward rules get more complicated. The unused losses stay with whoever originally realized them. For record keeping, I'd recommend creating a simple spreadsheet to track your carryforward amounts by year and type (short-term vs long-term). This makes it much easier when you're doing your taxes each year, especially if you switch tax software or preparers.

I completely understand your situation - I made the same transition from CPA to DIY tax prep about 3 years ago for my real estate partnership K-1s. The key is being methodical and not rushing through it. One thing that really helped me was printing out both my current K-1 and my prior year tax return side by side. This way I could see exactly how my CPA handled each item and follow the same pattern. Pay special attention to how passive losses were handled on Form 8582 - even with a profit this year, you likely have suspended losses that need to be tracked. For your specific question about AMT, I'd recommend at least running through the calculation if your K-1 has any entries in Box 17 (AMT adjustments) or if your total income exceeds around $100k. The good news is that with recent tax law changes, fewer people are actually subject to AMT than before, but it's worth checking. A couple of additional tips from my experience: - Double-check that your partnership's EIN is entered correctly in your tax software - Make sure you understand whether your partnership made any Section 199A elections that might affect your QBI deduction - Keep detailed records of any distributions you received during the year, as these affect your basis calculations TurboTax actually handles K-1s pretty well if you take your time with the interview process. The key is having all your supporting documents organized before you start. Good luck with your DIY approach - it gets much easier after the first year!

I'm going through this exact same situation right now! Just got my K-1 from a real estate partnership and trying to figure out TurboTax for the first time instead of paying my CPA. One thing I discovered that's been really helpful is making sure I understand the difference between the various types of income on the K-1. My partnership has entries in both Box 1 (ordinary business income) and Box 2 (rental income), and I initially thought these might go to the same place, but they actually have different tax implications. Also, regarding your question about AMT - I called the partnership directly to ask if they had any AMT adjustment items, and they were able to tell me right away whether I needed to worry about Form 6251. Might be worth a quick call to yours as well. Has anyone here dealt with K-1s that have multiple state allocations? My partnership operates in three different states and I'm not sure if that complicates the reporting or if TurboTax handles that automatically. The learning curve is definitely steep but I'm finding that taking it step by step and not trying to rush through everything makes it much more manageable. Good luck with your DIY journey!

Lot of good advice here but nobody has mentioned the importance of the LLC Operating Agreement! That document should specify your actual status in the company and might clarify if you're supposed to be treated as a member, manager, employee or some combination. Request a copy ASAP if you don't already have one. Also, if they're paying you from a different entity than the one you work for, that could indicate they're using a Professional Employer Organization (PEO) or some kind of employee leasing arrangement, which is actually pretty common and not necessarily shady. But if that's the case, they DEFINITELY should be withholding taxes!

This situation has several red flags that suggest potential tax fraud or worker misclassification. The fact that they're claiming you as an employee for COVID relief purposes while simultaneously refusing to withhold taxes is particularly concerning - that's essentially having it both ways for their financial benefit. Here's what I'd recommend doing immediately: 1. **Document everything** - Save all contracts, pay stubs, emails about your status, and any communications regarding the COVID relief claims. Screenshot or print anything that might disappear. 2. **Request your LLC documentation** - Get copies of the Operating Agreement, any amendments, and confirmation of the LLC's tax election (partnership vs. corporation). You have a right to this information as a purported member. 3. **Calculate your potential tax liability** - Since no taxes have been withheld, you're likely on the hook for both income taxes AND self-employment taxes (15.3%) if you're truly classified as a self-employed LLC member. This could be a substantial amount. 4. **Consider professional help** - This situation is complex enough that you might want to consult with both a tax professional and an employment attorney. Many offer free consultations and can help you understand your rights and obligations. The discrepancy between your "employment contract" language and their current claims about your status, combined with the different payment entity and COVID relief issues, suggests this company may not be handling worker classification properly across the board.

Oof this sounds super frustrating! The fact that you have a refund freeze code 810 but it says "no return filed" is definitely weird. Code 810 usually means they're holding your refund for review, but if there's no return on file, that doesn't make sense. I'd suggest calling the IRS directly at 1-800-829-1040 and asking them to explain the disconnect between the transcript showing no return but having transaction codes. Also might be worth checking if your SSN or other info got mixed up somehow during filing. Keep all those papers they sent you - you'll probably need them when you call!

This is definitely a confusing situation! The combination of "no return filed" with a refund freeze code 810 is contradictory - you can't have a refund freeze if there's supposedly no return on file. This sounds like either a system glitch or your return got stuck somewhere in processing. A few things to try: 1) Call the IRS early morning (7-8am) on Tuesday-Thursday for shorter wait times, 2) Ask specifically about the code 810 and why it shows up with no return filed, 3) Request they check if your return is stuck in errors/review departments. Also double-check that your SSN and personal info match exactly what you filed with. Keep those papers handy when you call - they might have clues about what's really going on behind the scenes!