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

    Oct 24, 2007, 09:13 PM
    Foreign Income Tax under L1 Visa with no substantial presence test
    I have an L1 Visa for more than 3 years, but stays in the US for less than 3 months a year.
    I pay US taxes on my US Income.

    I also trade US stocks while I am abroad. Do I have to pay Income Tax on Stock Gains, or can I claim Foreign Status.

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

    Oct 25, 2007, 09:18 AM
    Luis:

    You can claim foreign status and NOT pay capital gain taxes on your stock transactions.

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