srmcg
Dec 19, 2011, 06:31 PM
Hi.
I am a resident alien to the US in the last couple of years.
The company I worked for (a US company) in my home country had a stock plan to its employees as part of the employment.
I never really knew anything about this or did anything. I assumed it all closed down (and I lost whatever stocks were in it) when I left the company before coming to the US.
The stock account I guess is a US account.
A couple of months ago I found out that it was not closed - I inquired why that was and they said maybe there was some money in it owed to me.
I logged into the account and it showed about $30 as a "Cash Asset" or "Cash and Money Balances" in a statement.
I know absolutely nothing about stocks or what all this means. So I got the $30 paid out to me (went to my home country address) and then shut down the account.
I looked at past statements and that $30 was the only thing in it for many many years - and for years before I came to the US. Nothing else was added or given to me in the account. Only activity since I moved to the US was me getting rid of the $30 and closing the account last month.
This was processed as a "Cash Disbursement" - which I have no idea what this means.
This seems to me to be unrelated to any stocks etc as I did not have stocks for the past few years.
Can someone please advise what I need to do with regards this $30 transaction in my tax return next year - where it goes and how to handle it? The money never entered the US also - got sent to my parents house and told them to keep the measly amount it was. I don't know what terminologies it would represent and don't want to mistakenly get it entered as stock transactions or something that is wrong.
Sorry for the long question but I would really appreciate someone help as I have no idea what to do with this.
I am a resident alien to the US in the last couple of years.
The company I worked for (a US company) in my home country had a stock plan to its employees as part of the employment.
I never really knew anything about this or did anything. I assumed it all closed down (and I lost whatever stocks were in it) when I left the company before coming to the US.
The stock account I guess is a US account.
A couple of months ago I found out that it was not closed - I inquired why that was and they said maybe there was some money in it owed to me.
I logged into the account and it showed about $30 as a "Cash Asset" or "Cash and Money Balances" in a statement.
I know absolutely nothing about stocks or what all this means. So I got the $30 paid out to me (went to my home country address) and then shut down the account.
I looked at past statements and that $30 was the only thing in it for many many years - and for years before I came to the US. Nothing else was added or given to me in the account. Only activity since I moved to the US was me getting rid of the $30 and closing the account last month.
This was processed as a "Cash Disbursement" - which I have no idea what this means.
This seems to me to be unrelated to any stocks etc as I did not have stocks for the past few years.
Can someone please advise what I need to do with regards this $30 transaction in my tax return next year - where it goes and how to handle it? The money never entered the US also - got sent to my parents house and told them to keep the measly amount it was. I don't know what terminologies it would represent and don't want to mistakenly get it entered as stock transactions or something that is wrong.
Sorry for the long question but I would really appreciate someone help as I have no idea what to do with this.