Glossary.
Twelve cross-Atlantic expat-tax terms in plain language — the ones that decide whether an S&P 500 book ends up in IRPEF brackets, in the PFIC regime, or in the 26% capital-gains line. Each entry has a one-line link back into the home-page pillar, the FAQ or the how-it-works explainer, so this index becomes the spine tying every SEO surface together.
Alphabetical
The twelve terms the cross-Atlantic tax conversation lives in.
Use the letter strip at the top of the list to jump; each entry links into the pillar content on the home page, the FAQ or the how-it-works explainer.
F
1 termForm 8621 election
An annual IRS election a US-tax person files per PFIC to opt out of the punitive default regime — the QEF election taxes the fund's annual income and gain currently at ordinary rates, the mark-to-market election taxes the annual mark at ordinary rates without the PFIC interest charge, and both are forward-looking only.
I
3 termsIRC §1091 (wash sale)
The US rule that disallows a realized capital loss when a substantially identical security is repurchased within the 30-day window before or after the sale, with the disallowed loss added to the basis of the replacement shares rather than lost.
See: How wash-sale 1091 collides with an Italian minusvalenza (FAQ)
IRPEF
Italy's progressive personal-income tax on worldwide income for residents, with capital gains on individual non-harmonized equities taxed at a flat 26% outside the IRPEF brackets and the IVAFE wealth tax layered on top of the same positions in Quadro RW.
IVAFE
Italy's 0.2% annual wealth tax on foreign-held financial assets, applied line-by-line to every position reported in Quadro RW regardless of whether any income was actually earned, with a separate 30%+ sanction regime for undisclosed lines.
M
1 termMinusvalenze
Italian tax-loss carryforwards arising from realized losses on financial assets, reportable in Quadro RT and usable to offset future capital gains of the same type within a four-year window — which is the entire reason the harvester is engineered to surface them cleanly.
N
1 termNIIT
The 3.8% US Net Investment Income Tax layered on top of ordinary rates, applied to investment income (dividends, interest, capital gains, rental and passive income) of US persons above the MAGI threshold — £/$200k single / $250k joint — and not creditable against Italian or UK tax.
O
1 termOffshore income gain
A UK chargeable gain that arises when a non-reporting offshore fund is disposed of by a UK resident: accumulated unrealized income inside the fund is recharacterized as income (taxed at the taxpayer's income-band rate) at the point of sale rather than carried as capital.
See: How the replication avoids the offshore income-gain trap (How it works)
P
1 termPFIC
A "Passive Foreign Investment Company" — the US-tax classification for most non-US-domiciled pooled funds (Irish and Luxembourg UCITS included) that triggers a separate, punitive taxation regime for any US person owning it, requiring an annual Form 8621 even when no income is distributed.
Q
1 termQuadro RT
The section of the Italian Redditi PF tax return that reports capital gains and losses on financial assets, where the harvester's realized minusvalenze flow each year and offset gains within the four-year Italian carryforward window.
R
1 termReporting fund
A UK HMRC designation an offshore fund can elect into, requiring it to report annual income to UK investors so those investors are taxed on the declared income in the year it accrues rather than recharacterized as an offshore income gain on disposal.
See: Why reporting-fund status reframes the treaty math (FAQ)
U
1 termUS estate tax exposure for non-residents
US estate tax applies to the worldwide estate of every US citizen or domiciliary regardless of where assets sit, and to US-situs assets only of a non-resident alien — with a much smaller (~$60k) exemption on US-situs assets and no lifetime unified credit, so non-resident US-situs holdings above the threshold are taxed at the graduated estate rate.
W
1 termW-8BEN
The IRS form a non-US person files with a US withholding agent (typically a US broker) to certify foreign status and claim a reduced treaty rate on US-source dividends, interest and royalties — most US brokers attach it silently at account opening, dropping the default 30% withholding to the 15% or 10% treaty rate.
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Most jargon is two-sided; the same word in two countries rarely means the same thing. The calculator handles the after-tax ending; the first conversation handles the terminology gap and what to do about it.