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BPPR is required by law to send informative statements about any amount of money forgiven to a mortgage customer. If you receive these forms, it is important that you talk to your accountant about the tax impact of this forgiveness, if any.
Where do I report form 480.6 C?
I received 480.6c form. Do I need to file it? You would report the paid interest in Box 1. At the bottom of that box is a check box that says "My form has info in more than Box 1" For withheld, you will enter that amount under Foreign Tax Paid..
What is IRS Form 480.6 C?
480.6C - Form 480.6C is intended for non-residents of Puerto Rico. It covers investment income that has been subject to Puerto Rico source withholding. 480.6D - Form 480.6D is intended for residents of Puerto Rico. It covers exempt income and income subject to the Puerto Rico Alternate Basic Tax (ABT).
What is a 480 form?
Series 480.6A reports any taxable dividends and/or gross proceeds from realized capital gains or losses in your taxable investment account. This form will also report any interest paid out in your cash account. Series 480.6D reports any tax exempt dividends that were distributed in your taxable investment account.
In different administrative and organizational forms, the Food for Peace program of the ... 2.1 Public Law 480 (1954); 2.2 Kennedy era and Food for Peace Act (1966) ...
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