Stock Markets Exposed
Taxes to pay from Peru for trading (USA stocks)?
I would like to get any advise regarding taxes I would have to pay from Peru to IRS if any. I use to do many stock trades per month by using a internet discount broker (Ameritrade). When living in USA I paid to IRS. Now I would have to pay to my country tax institution and IRS?? or may be as a foreing person living abroad I got a kind of advantage (not pay taxes on stocks or capital gains in USA). Any advice or information on that will be very wellcome. Thanks a lot.
Public Comments
- If you are neither a citizen nor a tax resident of the US, you are not required to pay US income tax on capital gains from stock trades. You are subject to withholding tax of 30% on any dividend income that you receive from US companies. The question of who is a tax resident can be tricky, but if you are not a green card holder and the trades took place after you had permanently left the country, you should not be considered a resident. If you were a green card holder for an extended period of time before you left the country, you may be subject to special rules under which the IRS retains the right to tax certain income. Please consult a US tax advisor for full details.
- Tax Guru gave a good answer... one thing to add... if you spend more than 183 days in the U.S. during any calendar year, then you are also subject to 30% U.S. tax on any capital gains from selling U.S. securities during that year. These taxes would be reported by you on IRS Form 1040NR available at www.irs.gov
