Form 1040-C - Us Departing Alien Income Tax Return
Form 1040 C is a federal tax form used by departing aliens to report their U.S. sourced income for the tax year. It's used to calculate the tax liability of nonresident aliens who are leaving the United States and have earned income from U.S. sources during their stay.
Who needs to file Form 1040-C?
You need to file Form 1040 C if you're a nonresident alien who is leaving the United States and have earned income from U.S. sources during the tax year. This includes income from:
- Wages or salaries
- Self-employment income
- Interest, dividends, or rental income
- Capital gains or losses
What do I need to report on Form 1040-C?
On Form 1040 C, you'll report your U.S. sourced income, deductions, and credits. You'll also calculate your tax liability and claim any applicable tax treaty benefits.
Parts of Form 1040 C:
Form 1040 C consists of several parts:
- Part I: Income: This part is used to report your U.S. sourced income, including wages, salaries, self-employment income, and investment income.
- Part II: Deductions: This part is used to claim deductions related to your U.S. sourced income, such as business expenses, charitable contributions, and moving expenses.
- Part III: Credits: This part is used to claim tax credits, such as the foreign tax credit or the child tax credit.
- Part IV: Tax Computation: This part is used to calculate your tax liability based on your U.S. sourced income, deductions, and credits.
- Part V: Payments: This part is used to report any payments you've made towards your tax liability, such as estimated tax payments or tax withheld from your income.
- Part VI: Overpayments and Refunds: This part is used to claim a refund of any overpayment of tax or to apply the overpayment to next year's tax liability.