Greta
Level 9
12-06-2019
06:53 PM
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I do feel this is way over my level of expertise. I prepared her father's taxes. When he died, he left his house in Virginia and portfolio split among three daughters. This daughter moved from VA to UK some years ago, she apparently is a US citizen still. Her portfolio has been handled by a local Virginia broker. The address was the father's house's address, she now owned 1/3 of the house. I told her I did not know how to handle international tax returns, she said she had an accountant in UK who could put the two countries' tax data together if I would just prepare the Sch B and D. The federal tax always came out to zero because of the favorable investment tax treatment. She told me she would pay taxes in UK on the portfolio income. Should I quit doing this?!