 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Money earned in foreign country
1) If I had earned a broker fee for a transaction overseas and the fee was deposited in my overseas account, then do I have to pay taxes in US?
2) If one day I want to transfer the money to my US account, will I have any tax liability? |
||||
|
||||
|
A U.S. citizen or resident must report worldwide income on his/her tax return. So the broker fee earned by you must be reported on your tax return. Another filing requirement is Form TD F 90-22.1. Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
I recently sold a house in a foreign country and paid local taxes on this transaction. I would like to transfer this money from my bank account in the foreign country to my US bank account. What are my legal obligations? Are there any forms I need to file? Will I need to pay US tax on this money?...
I am a student on F1 visa studying in Ohio. I am scheduled to get 25000$ wire transferred from a foreign country. Will this amount be taxable when it lands in USA?
My husband is a resident alien of the US and I am a US citizen. His mother recently died and his Dad sold the house. The money for the house will be given to my husband as inheritance because that was his mother's wishes. There will already be a decrease in the amount due to the exchange rate...
What about a person who has money in a bank in Serbia and is now a citizen of the U.S. Do they have to pay taxes?
View more questions Search
|
