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  • Apr 15, 2013, 01:30 PM
    Giacomo
    Taxes after leaving the US
    Hello and thanks in advance for your great forum.

    This is my situation:

    - citizen of Italy
    - from 8/2000 to 8/2010 I studied and worked in the US with F1 and H1B visas resp.
    - from 8/2010 moved back to Italy
    - in 7/2011 worked in the US for 1 month
    - in 2012 earned dividend income in my US-based portfolio account
    - in 2013 I'll be working in the US for 1 month and I have earned dividend income and short term capital gain in my US-based portfolio account.
    - in 2011 I have been in the US for approx 40 days total, in 2012 approx 20 days total, in 2013 I'll be in the US for approx 40 days total.

    Two questions:
    Q1: I have never filed Dual Status returns. In fact I have filed as a resident in both 2011 and 2012. Do I need to amend any of those returns?
    Q2: Are my dividend income and capital gain income tax exempt, as I'm not an alien resident anymore?

    Thanks so much!
  • Apr 15, 2013, 04:37 PM
    AtlantaTaxExpert
    If the income earned in the U.S. in 2011 and 2012 is from a U.S. company, it IS subject to taxation, and the interest and dividends are taxed at progressive rates based on the total U.S.-sourced income.

    If there is no earned income, then interest is taxed at 10% and the dividends taxed at 15%, with qualified dividends taxed at 5%.

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