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Deductions & credits
Dear @pk
Following up on my earlier questions, my H1B visa is set to expire at the end of this year, which may require me to return to India temporarily. I have not yet cashed in my equity as mentioned above.
If I leave the U.S. for several months, with plans to return on a new visa sometime in the middle of the next year, I plan to keep my U.S. bank account active during that period.
Assuming I’m not living or working in the U.S. for the initial part of 2025, what tax implications would apply if I transfer funds from encashed equity in Singapore to my U.S. bank account during that time? Would I still be subject to U.S. taxes on this transfer, despite not being a resident or working in the U.S. at the time of the transaction?
Thank you for your guidance!