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American Tax question

 
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No_hite_pls



Joined: 05 Mar 2007
Location: Don't hate me because I'm right

PostPosted: Thu Jun 07, 2012 5:34 am    Post subject: American Tax question Reply with quote

I qualify for foreign income tax exclusion but I have investment income in the states.
Is this the investment income taxable to the states even though I am not a resident?
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always learning



Joined: 10 Apr 2011

PostPosted: Thu Jun 07, 2012 6:29 am    Post subject: Re: American Tax question Reply with quote

Friendly suggestion. Asking for tax advice is not something I'd recommend on this forum. (This is the part where someone would hit you on the head and say, "What were you thinking?")

Just a general comment.

The foreign earned income exclusion is for overseas income. Other possible taxable sources of income include interest on bank accounts, profits from sale of stocks, etc.

Turbo Tax might be an easy tool for you to to use in preparing your taxes. It walks you through the 1040 and helps you understand your total income and total deductions.

If you google, I'm sure you could also locate a tax specialist locally that could assist you in preparing your U.S. tax return.
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Nismo



Joined: 31 Aug 2005

PostPosted: Thu Jun 07, 2012 5:34 pm    Post subject: Re: American Tax question Reply with quote

No_hite_pls wrote:
I qualify for foreign income tax exclusion but I have investment income in the states.
Is this the investment income taxable to the states even though I am not a resident?


Yes.
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No_hite_pls



Joined: 05 Mar 2007
Location: Don't hate me because I'm right

PostPosted: Thu Jun 07, 2012 5:37 pm    Post subject: Re: American Tax question Reply with quote

Nismo wrote:
No_hite_pls wrote:
I qualify for foreign income tax exclusion but I have investment income in the states.
Is this the investment income taxable to the states even though I am not a resident?


Yes.


I thought so.
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