Hi,

I have a question about how are nonresident alien individual taxed? I have been living states for 6 years now with a H1-B visa and plan to go back to home country ( India ) end of this year. I have made investments in my non-taxable account over the years.

My non-taxable a/c mostly consist of Closed-end funds for which I receive dividend ( 1099-DIV). From IRS website... when I become nonresident alien, I will be taxed at 30% on my 1099-DIV.

Is there anyway I can reduce my tax burden ? Or the option is to take money with me.

Thanks in adv

Hi,

I have a question about how are nonresident alien individual taxed? I have been living states for 6 years now with a H1-B visa and plan to go back to home country ( India ) end of this year. I have made investments in my non-taxable account over the years.

My non-taxable a/c mostly consist of Closed-end funds for which I receive dividend ( 1099-DIV). From IRS website... when I become nonresident alien, I will be taxed at 30% on my 1099-DIV.

Is there anyway I can reduce my tax burden ? Or the option is to take money with me.

Thanks in adv

The amount of tax you cite will be based on how much is withheld. The 30% is that high to ensure you file a tax return to account for the money earned.

The first $3,300 will be tax free, because that is the amount of your personal exemption when you file your Form 1040NR. Then it will be taxed at 10%, and then 15%.