[Giacomo]

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!

[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%.