Stock Markets Exposed
Do I have to pay taxes on investments in the US stock market?
I'm not an american citizen. I'm looking into opening an e-trade account. I know that I have to automatically pay taxes on purchase and gains but how about if i have to file taxes on april 15th and such?
Public Comments
- the US government requires taxes of everyone who makes a profit in America, including you. Your brokerage will inform the US Internal Revenue Service of your income and proceeds (sales) automatically. Since you aren't a citizen, you'll probably have to apply for a tax ID number before E*Trade will open an account for you. E*Trade will inform you of mandatory withholding, if any. and yes, you'll have to file Form 1040 as a non-resident alien with the usual timing.
