Hello,
I am an Indian citizen and have been working as a Research Scientist on an H1B (lottery exempt) visa at a US university since November 2023. Prior to this, I was on a J-1 visa (Research Scholar) at a national lab in the US starting in 2018.
Before moving to the US, I was a consultant at a startup in Singapore and was awarded equity in the company. The equity vested over three years, and I am now eligible to cash it out. I would like to transfer the proceeds to my US bank account.
Since Singapore does not tax capital gains, I do not owe any taxes on this equity there.
I would like to know if I need to pay taxes on this equity in the US. If so, how should I report it to the IRS? Additionally, is receiving such income legal given my current H1B visa status? I am expecting to receive permanent residency in the US later this year. Should I wait to receive my green card before transferring the equity money from Singapore to my US bank account?
Regards,
RD
