[connieshih523]

Hi! My husband and I (F1/F2 holder)have lived in the US since 2004; We filed our tax with 1040-NR for the first 5yrs, and begin to file with 1040 since 2009. I'm wondering if we can still choose to use 1040-NR instead of 1040 for our 2011 tax? Because we are thinking to sell our stocks that may boost our income on both long term and short term gain. And I understand that nonresident is not required to pay long term capital gain? Please help!

Thank you!

[AtlantaTaxExpert]

First, it would not matter if you filed as a resident or non-resident; the capital gains on the stock sales would STILL be subject to U.S. income taxes, because it is U.S.-sourced income earned whiel you were physically present in the U.S.

Second, once you begin filing legally as resident aliens, you generally CANNOT revert back to non-resident status unless you change visa status or return to your home country and re-establish residency there.