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air2009
Feb 13, 2009, 09:59 AM
Please help,

I am on dual status for 2008 tax purpose. I was on H1B and left US in April, 2008. My questions are:

During my non-resident period of 2008, I only received interests from US saving account and dividends from US brokerage account(some of dividends distributed in my IRA and mutual fund).

1.Do those interests from US saving account count among my taxable income on form 1040NR?

2.Are those dividends taxable? Should I show those as taxable income on form 1040NR?

I still hold a 401k account even I left US, and all funds have been rolled over to the new plan by my former employer, so I got a form 1099-R.

3.should I show this change on the form 1040NR or 1040? And which line?

Thanks for your time and consideration.

MukatA
Feb 13, 2009, 10:41 AM
Dual Status?
How many days you were in the U.S. in 2006 and 2007 and what date you left the U.S. in 2008?
Are you single or married? What return did you file in 2007?

air2009
Feb 13, 2009, 11:09 AM
Yes, I am on dual status in 2008.
My wife and I lived in US for 5+ years(she didn't work at all in US), and we left US in April 18, 2008.
Before 2008, we used to file form 1040(jointly).

Thank you for your reply~~

AtlantaTaxExpert
Mar 3, 2009, 04:09 PM
1) The interest earned during the non-resident time is NOT taxable, but must be reported on the dual-status return on Form 1040NR.

2) The dividends ARE taxable.

3) Show the rollover on Form 1040, Line 16.

IntlTax
Mar 3, 2009, 08:30 PM
The dividends will be taxed at a flat 30% rate unless a treaty applies to have a reduced rate.