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About linv14

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  • Location Hamburg
  • Nationality USA
  • Gender Female
  • Year of birth 1984
  1. Thanks for your responses! Forgot to ask: which passport do you have if you don't mind sharing it.
  2. I've looked up the regulations and I am particularly interested in people's actual experience traveling back to Germany holding an Aufenthaltstitel(permanent residency). If you have Aufenthaltstitel, a non-EU passport, and you have traveled back from a non-EU country in the past two months, I'd love to hear about your experience. - When did you come back? - Which country did you visit and stopover? - How was your experience with the customs? Thanks!
  3. I got interested in High Yield Saving Accounts for my emergency money for its wonderful interest rate. Upon filing the application for two popular banks, Ally and Capital One, I was requested to tick off and confirm that I am not subject to FATCA reporting.  Just like many American expats, we live in Germany and have savings in German banks. When foreign savings exceed a certain amount we are subject to FATCA reporting, which is just telling the US government about our asset in foreign countries. Now I can't open an HYSA account just because I have some savings in Germany. That's kinda weird. Does anyone know why?   this is the wording from Ally Bank I am exempt from Foreign Account Tax Compliance Act reporting.   Capital One; The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct.
  4. Thanks for your excellent details, @Straightpoop   For the interest and gains, did you mean if the interest and gain is German-sourced, then the German resident can take a foreign tax credit on the German tax return?   Do you have any tips on how expats in this situation can smartly manage their portfolio?    
  5. I have an investment account in the US and sometimes it generates capital gain. I understand the dividends/interest/gain from funds are all considered as capital gain and are subject to 25% of tax in Germany.   1. Is it a flat rate 25% tax regardless of your total income? 2. Do you get a tax credit on the German tax return for having already paid tax in the USA? 3. If yes on 2. Could you elaborate on the calculation of tax credit?   A tax lawyer told me the following: A German investor lives in the US and has funds in Germany. The stock has already been taxed in Germany. He would get some credit when he declares tax in the US. A US investor lives in Germany and has funds in the US. The stock in the US has already been taxed. He would NOT get any credit when he declares tax in Germany(gets the full-blown of 25% on every cent of the capital gain all over again)   It sounds rather painful to the US person, aka me. If it's true I’d have to reconsider my strategy.  
  6. Cost of Land on Apartment

    Wow this is great information and exactly what I need. Thank you so much!
  7. Cost of Land on Apartment

    I bought an apartment unit in Germany and now I need to know the cost of land for tax purposes in the US.   Firstly, does one pay for land when he buys an apartment in Germany? Not the entire apartment. I mean one unit in the apartment building.   If so, how do I find out how much the land has costed me when I buy the apartment?   Thank you so much!