I am an Italian citizen and a physician.

I've lived in the US from November 2003 until October 2004 with a J-1 visa. At that point I was an "observer" and had no income in the US.

Now I have won a position for a 4 year program of formal training (fellowship), which includes 1.5 to 2 years of basic research and I will receive a salary from the University in the U.S. I am here on a J-1 Visa.

Am I eligible for exemption of taxes according to the US income and capital tax convention?

Thank you

You are NOT eligible for the cited exemption because the duration of your stay exceeds two years.