hariman1
Aug 18, 2007, 09:37 AM
Myself and my wife are green card holders .my son,a us citizen gifts us some shares which we sell from time to time and use proceeds for our personal expenses.This totals around $11000 for 2006.
In addition myself and my wife have indian income mainly from dividend and interest and also income from my small busuness.Taxes are paid by us. In india.I want to know how this income and usa income will be treated for taxes in usa and what is tax rate in us for our indian income.
I have not paid any tax so far in usa.Please clarify.
In addition myself and my wife have indian income mainly from dividend and interest and also income from my small busuness.Taxes are paid by us. In india.I want to know how this income and usa income will be treated for taxes in usa and what is tax rate in us for our indian income.
I have not paid any tax so far in usa.Please clarify.