Ask Experts Questions for FREE Help !
Ask
    sandeepg's Avatar
    sandeepg Posts: 19, Reputation: 1
    New Member
    		  
    #1

    Apr 6, 2010, 11:55 AM
    Tax on 1099-div qualified dividends for Indian citizen
    I changed my visa from F1/OPT to H1B in October last year. Reading response to some of the questions it seems I have to file 1040-NR this year. My question is related to 1099 forms. As far as I know I don't have to pay any taxes on 1099-INT , however I have question about the taxes on 1099-div (qualified dividends). Do I have to pay taxes on this ? What tax rate applies and where on form do I report this ? Do I get any benefits from India Tax treaty 21(2) ?

    Please answer this question, it's urgent!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    May 6, 2010, 01:24 PM
    While the interest is tax-exempt, the dividends are not. The normal tax rates that apply to U.S. citizens apply to you as well.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Never visited USA - Capital Gains Tax - Indian citizen [ 2 Answers ]

Hi All, I returned to India on Dec 2006 after staying 7 years in US and got married to an Indian girl Sep 2007. She is an home maker and I wanted to open a brokerage account in USA under her name. I do not want to open in my name due to potential tax complications both in India and US ( as I...

How to report 1099-DIV? [ 1 Answers ]

I received a 1099-DIV with, lets say, $70.00 in box 1a and box 1b. I still hold the stock which has a "paper loss". Do I still have to report the amount in box 1a. And what can be done with box 1b? Thank you for any help with this matter. I always do my own taxes (the old school way), and...

Correction for 1099 Qualified dividends [ 1 Answers ]

I received a correction for my 1099 from my broker. The correction was only in one field "qualified dividends", it's increased by only one dollar ($1) . I already made my taxes, Do I need re-do it to correct it with $1 increase in the 1099 "qualified dividends" ? Please advise. Thanks

1099-div [ 3 Answers ]

I purchased mutual funds in December 06 from T-Rowe Price and received 1099-DIV tax forms recently. I have small amounts of money reflected in the ordinary dividends and capital gain distributions boxes. Is it necessary to report these small amounts on my taxes? Thanks, John

View more questions Search