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    juggernauts's Avatar
    juggernauts Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 4, 2007, 05:26 PM
    Filing Individual Income Tax for non-resident
    Hi,

    I am confused as a foreigner (non-resident, no green card, etc.) who has filed W-8BEN form with my bank and brokerage houses. I have SSN because I was studying and working in the US before. In 2003 I left the US for good.

    My questions are:
    1. Do I need to file income tax if I have (positive) capital gain from stock trading?
    One tax consultant told me I have to file if I make more than US$11k in that tax year. Another friend of mine who has similar status said it's not necessary.

    2. Same as question 1 but this is for my 401k account. Will I be taxed if I withdraw the money after retirement age (assuming I am still a non-resident at that time)?

    I greatly appreciate your advice. If possible, please point me to the official documents regarding these issues.

    Thank you.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 4, 2007, 07:38 PM
    You will need to file a tax return for the capital gains realized from the stcok trading.

    Once distributions are made from the 401K, tax returns will need to be filed to declare the income received.
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