I think everyone's missing an important point here - Trading 212 might not issue the proper tax documents needed for German tax filing. I use them too and had to manually calculate my taxable gains last year, which was a huge pain. Unlike German brokers who handle the tax withholding automatically, Trading 212 puts all responsibility on you to correctly report everything. Make sure you're keeping detailed records of all purchases, sales, and any distributions!

As someone who's dealt with similar cross-border investment taxation issues, I'd strongly recommend getting professional tax advice before making any large transfers. The interaction between German tax law and Egyptian tax obligations can be quite complex, especially when you factor in the bilateral tax treaty. One thing to keep in mind is timing - if you're planning to leave Germany in the near future, there might be exit tax implications on unrealized gains depending on the size of your holdings. Also, make sure you understand Egypt's foreign exchange regulations regarding large incoming transfers, as some countries have reporting requirements for substantial foreign investment proceeds. The German tax obligation is clear (you owe tax regardless of where you send the money), but the Egyptian side might have its own complexities that could affect your overall tax burden. A tax advisor familiar with German-Egyptian tax matters would be worth the consultation fee to avoid any costly mistakes.

3 Has anyone used TaxAct with Notice 2014-7 income? I'm trying to figure out how to enter this correctly and the software keeps trying to tax me on it, even though box 1 of my W-2 shows $0. Help please!

I'm also dealing with Notice 2014-7 income as a caregiver and wanted to share what I learned after doing some research. The key thing to understand is that this notice specifically applies to difficulty-of-care payments made under Medicaid home and community-based services waivers. Since your W-2 shows $0 in Box 1 and the amount in Box 14 with the 2014-7 notation, your employer has correctly classified this as excludable income. You absolutely should still file a tax return and include this W-2, but the income won't be subject to federal income tax or self-employment tax. One important detail I discovered: make sure you're actually eligible for this exclusion. The care recipient must qualify for institutional care (like a nursing home) and you must be providing care in a home setting. Also, there are limits on how much can be excluded - it can't exceed the difficulty-of-care payment amount determined by the state. I'd recommend keeping detailed records of your caregiving activities and the recipient's medical condition documentation, just in case the IRS ever questions the exclusion.

Pro tip: If you cant get your IP PIN online or by phone, you can file Form 15227 to request one. It takes longer, but it's an option if your stuck.

Just wanted to add that if you're using tax software like TurboTax or H&R Block, they usually have built-in help for IP PIN issues. Sometimes they can guide you through the retrieval process or even help you file without it in certain situations. Also, if you're married filing jointly and only one spouse has an IP PIN, you'll need to get one for both - learned that the hard way last year! 😅

Great thread with lots of helpful information! I'm dealing with a similar situation but have an additional complication - I received unemployment benefits from France during part of 2023 before starting my consulting work. Does anyone know how French unemployment benefits (allocation chômage) are treated for US tax purposes? I'm wondering if these would be considered foreign earned income eligible for the FEIE, or if they're treated more like unearned income. The benefits were based on my previous employment in France, so I'm not sure if the IRS views them as compensation for services or just social benefits. Has anyone dealt with this type of income before? Also, @Freya Christensen - have you been able to get clarity on your sabbatical situation yet? I'm curious how it turned out since our situations seem very similar with the mix of US and French income sources.

This is such a comprehensive discussion! I've been following along as someone in a similar situation with international income complications. One thing I haven't seen mentioned yet is the potential impact of tax treaties between the US and France. The US-France tax treaty has specific provisions that might affect how your sabbatical income and consulting work are treated. For instance, Article 15 covers employment income and might provide additional protections against double taxation. There are also provisions for researchers and academics that could be relevant to your sabbatical situation. Additionally, since you mentioned planning to return to the US in June 2024, you'll want to be strategic about your timing. If you break foreign residence before establishing it for a full tax year, it could affect your ability to use the Bona Fide Residence Test for 2024. You might need to rely on the Physical Presence Test instead, which requires careful day counting. Have you considered consulting with a tax professional who specializes in expat returns? Given the complexity with multiple income sources, treaty provisions, and the transition back to US residency, it might be worth the investment to ensure you're optimizing your tax position and staying compliant with all filing requirements.

Something nobody mentioned yet - make sure you file even if you don't owe anything! I made that mistake one year thinking "I don't owe taxes so why file?" and missed out on getting my withholding back. You HAVE to file to get that money refunded to you. The IRS doesn't automatically send it back.

Hey I was in literally the exact same situation last year. Made 11k, had about $1200 withheld. I got ALL of it back plus some extra from tax credits. Filed in February and had my refund by mid-march. Just use a free filing service and it's pretty straightforward!!