Tax Implications for Natascia Ciniglio De Casas 2016 2017 2018

Puerto Rico Income (Estimated W-2 Income) $ 70,000.00 $ 70,000.00 $ 70,000.00

2016 2017 2018 Standard deduction (Single/Married Filing Jointly) $ 12,600.00 $ 12,700.00 $ 24,000.00
Gross Income $ 17,046.44 $ 18,634.36 $ 18,550.21
Standard deduction (Single/Married Filing Jointly) $ (2,467.48) $ (2,670.03) $ (5,027.71) * * Publication 1321 of the IRS
Personal Exemption for Taxpayer $ (4,050.00) $ (4,050.00) $ -
If you are a bona fide resident of Puerto Rico who will file a US Federal Income Tax Return, Form 1040, and claim and exclusion for
Personal Exemption for Spouse $ (4,050.00) $ (4,050.00) $ - income earned in Puerto Rico, you will have to make certain adjustments on your return. Because some of the income is exempt
(under Code section 933) a part of the standard deduction amount on your U.S return must be allocated to that exempt income.
Personal Exemption for Dependent $ (4,050.00) $ (4,050.00) $ -
Taxable Income $ 2,428.96 $ 3,814.33 $ 13,522.50 2. Allowable portion of Stadard Deduction: 2016 2017 2018
a. Gross insomce subject to US tax $ 17,046.44 $ 18,634.36 $ 18,550.21
Tax Bracket If taxable
($0-$9,275) ($0-$9,325) ($0-$9,525)
income is between: b. Total gross income from all sources (including exempt P.R. income) $ 87,046.44 $ 88,634.36 $ 88,550.21
Tax Rate 10% 10% 10% c. Divide line 2a by line 2b 20% 21% 21%

d. Multiply Standard Deduction by line 2c and enter this amount on Form 1040 $ 2,467.48 $ 2,670.03 $ 5,027.71

Estimated Tax Liability $ 242.90 $ 381.43 $ 1,352.25

Total Estimated US Tax Liability Exposure $ 1,976.58 *

* Please take into consideration tjat the IRS will impose interest and/or penalties for late filing and payment.
 Required Information Streamlined Filing Procedures
1. Tax Returns
2. FBAR
3. Informational Returns
4. Certification Form 14653

2016 2017 2018

Banco General - Natascia Ciniglio De Casas Banco General - Natascia Ciniglio De Casas Banco General - Natascia Ciniglio De Casas
Month Rent Income Interest Income Month Rent Income Interest Income Month Rent Income Interest Income
31-Jan-16 $ 41.23 23-Jan-17 $ 1,500.00 10-Jan-18 $ 1,500.00
5-Feb-16 $ 1,465.00 r 31-Jan-17 $ 59.21 31-Jan-18 $ 53.76
29-Feb-16 $ 40.11 15-Feb-17 $ 1,500.00 9-Feb-18 $ 1,500.00
21-Mar-16 $ 1,500.00 25-Feb-17 $ 53.55 28-Feb-18 $ 48.27
29-Mar-16 $ 43.02 13-Mar-17 $ 1,500.00 12-Mar-18 $ 1,500.00
15-Apr-16 $ 1,500.00 31-Mar-17 $ 58.54 29-Mar-18 $ 52.59
30-Apr-16 $ 41.45 17-Apr-17 $ 1,500.00 16-Apr-18 $ 1,500.00
1-May-16 $ 1,500.00 29-Apr-17 $ 55.76 30-Apr-18 $ 50.19
31-May-16 $ 39.91 8-May-17 $ 1,500.00 9-May-18 $ 1,500.00
8-Jun-16 $ 1,500.00 31-May-17 $ 57.44 23-May-18 $ 51.61
11-Jun-16 $ 2.76 9-Jun-17 $ 1,500.00 13-Jun-18 $ 1,500.00
30-Jun-16 $ 41.37 30-Jun-17 $ 55.16 30-Jun-18 $ 49.75
8-Jul-16 $ 1,500.00 24-Jul-17 $ 1,500.00 16-Jul-18 $ 1,500.00
30-Jul-16 $ 53.81 31-Jul-17 $ 55.44 31-Jul-18 $ 50.72
11-Aug-16 $ 1,500.00 14-Aug-17 $ 1,500.00 6-Aug-18 $ 1,500.00
31-Aug-16 $ 52.35 31-Aug-17 $ 54.73 31-Aug-18 $ 50.23
13-Sep-16 $ 1,500.00 18-Sep-17 $ 1,500.00 14-Sep-18 $ 1,500.00
30-Sep-16 $ 50.45 30-Sep-17 $ 52.81 29-Sep-18 $ 47.72
21-Oct-16 $ 1,500.00 4-Oct-17 $ 1,470.00 9-Oct-18 $ 1,500.00
31-Oct-16 $ 57.56 31-Oct-17 $ 54.65 31-Oct-18 $ 47.43
23-Nov-16 $ 1,500.00 7-Nov-17 $ 1,500.00 6-Nov-18 $ 1,500.00
30-Nov-16 $ 57.88 30-Nov-17 $ 52.74 30-Nov-18 $ 45.49
13-Dec-16 $ 1,500.00 7-Dec-17 $ 1,500.00 13-Dec-18 $ 1,456.00
31-Dec-16 $ 59.54 Gross insomce subject to US tax 31-Dec-17 $ 54.33 Gross insomce subject to US tax 31-Dec-18 $ 46.45 Gross insomce subject to US tax
$ 16,465.00 $ 581.44 $ 17,046.44 $ 17,970.00 $ 664.36 $ 18,634.36 $ 17,956.00 $ 594.21 $ 18,550.21
 Required Information FBAR
Name of the account
Account number
Name and Adress of the foreign bank
Type of account
Maximum value during the year

Banco General Tower Bank Banco General Tower Bank Banco General Tower Bank
Maximum value during the year 2016 Maximum value during the year 2017 Maximum value during the year 2018
$ 182,674.29 $ 260,196.00 $ 180,101.31 $ 96,722.00 $ 153,050.57 $ 48,974.00

2016 2017 2018

Bank Month Year Ending Balance Bank Month Year Ending Balance Bank Month Year Ending Balance
Banco General January 2016 $ 95,333.96 Banco General January 2017 $ 180,101.31 Banco General January 2018 $ 153,050.57
Banco General February 2016 $ 104,310.54 Banco General February 2017 $ 179,894.70 Banco General February 2018 $ 150,923.94
Banco General March 2016 $ 103,211.78 Banco General March 2017 $ 173,188.85 Banco General March 2018 $ 145,999.97
Banco General April 2016 $ 103,158.02 Banco General April 2017 $ 171,920.95 Banco General April 2018 $ 144,640.53
Banco General May 2016 $ 100,112.91 Banco General May 2017 $ 169,858.71 Banco General May 2018 $ 143,814.50
Banco General June 2016 $ 158,522.30 Banco General June 2017 $ 168,623.93 Banco General June 2018 $ 140,150.60
Banco General July 2016 $ 148,080.11 Banco General July 2017 $ 159,290.06 Banco General July 2018 $ 138,229.93
Banco General August 2016 $ 146,489.24 Banco General August 2017 $ 158,767.58 Banco General August 2018 $ 136,659.40
Banco General September 2016 $ 145,544.87 Banco General September 2017 $ 157,488.50 Banco General September 2018 $ 124,498.35
Banco General October 2016 $ 182,674.29 Banco General October 2017 $ 156,820.07 Banco General October 2018 $ 123,079.14
Banco General November 2016 $ 182,276.90 Banco General November 2017 $ 157,593.08 Banco General November 2018 $ 121,005.95
Banco General December 2016 $ 180,379.78 Banco General December 2017 $ 153,944.34 Banco General December 2018 $ 117,602.34
TowerBank January 2016 $ 58,043.00 TowerBank January 2017 $ 94,055.00 TowerBank January 2018 $ 41,960.00
TowerBank February 2016 $ 43,929.00 TowerBank February 2017 $ 96,722.00 TowerBank February 2018 $ 43,235.00
TowerBank March 2016 $ 45,876.00 TowerBank March 2017 $ 84,894.00 TowerBank March 2018 $ 45,394.00
TowerBank April 2016 $ 50,420.00 TowerBank April 2017 $ 83,213.00 TowerBank April 2018 $ 48,280.00
TowerBank May 2016 $ 260,196.00 TowerBank May 2017 $ 85,547.00 TowerBank May 2018 $ 48,005.00
TowerBank June 2016 $ 125,723.00 TowerBank June 2017 $ 87,230.00 TowerBank June 2018 $ 46,498.00
TowerBank July 2016 $ 128,750.00 TowerBank July 2017 $ 89,081.00 TowerBank July 2018 $ 48,974.00
TowerBank August 2016 $ 45,490.00 TowerBank August 2017 $ 45,976.00 TowerBank August 2018 $ 43,951.00
TowerBank September 2016 $ 181,317.00 TowerBank September 2017 $ 40,308.00 TowerBank September 2018 $ 45,004.00
TowerBank October 2016 $ 140,875.00 TowerBank October 2017 $ 40,066.00 TowerBank October 2018 $ 48,773.00
TowerBank November 2016 $ 121,357.00 TowerBank November 2017 $ 42,574.00 TowerBank November 2018 $ 45,713.00
TowerBank December 2016 $ 93,927.00 TowerBank December 2017 $ 45,007.00 TowerBank December 2018 $ 41,342.00