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    we5119's Avatar
    we5119 Posts: 2, Reputation: 1
    New Member
     
    #1

    Feb 21, 2008, 12:23 PM
    1040NR advise
    I am a Singapore citizen, had never step foot in USA for 2007.
    I had a capital gain this year due to sale of Stock of the US company that I worked for. (about $5K gains)
    My brokage had automatically tax withhold $2K of the sale.
    I have the following questions.
    1. Do I have to report all my income in Singapore that has in no relationship with USA and pay tax for that ?
    2. Do I have to list out all my dependents who does not have a US Identifying number.
    3. Since I don't see I qualify for standard deduction or any other itemized deduction, am I better off no file the 1040NR and just let IRS keep the $2K withholding? I have no plans to ever become a US residence or citizen.


    Thank you
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
     
    #2

    Feb 23, 2008, 01:27 PM
    Did you work in the U.S. prior to 2007 and did you receive the stock from your employer?
    we5119's Avatar
    we5119 Posts: 2, Reputation: 1
    New Member
     
    #3

    Feb 24, 2008, 02:16 PM
    I had never worked in the US prior to 2007. Yes, the stock was granted from the "ex-employer"
    Thanks
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #4

    Mar 27, 2008, 11:18 AM
    In my opinion, the income is NOT U.S.-sourced, because the stock options are considered to be part of your compensation package.

    All taxes should should be paid exclusively to Singapore.

    You will need to file a tax return (Form 1040NR with a Form 8833) to claim this exemption and get the withheld money back.

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