Do I need to file taxes for purchasing stocks, when the amount withheld is 0.00$? I did not sell any in 2019.
I have 0 liabilities in the US because I have lived overseas for two years, yet I own stock that has generated 0.00 in withheld taxes. Do I have to file solely for owning stock?
02419
2 Replies
VolvoGirl
Level 15
Jul 1, 2020 11:32:01 PM
No. Only when you sell. What do you mean the amount withheld is zero? There is no withholding when you buy or sell stocks. They might generate dividends on a 1099-Div but not withholding.
fanfare
Level 15
Jul 4, 2020 4:39:46 PM
A US citizen must report and pay tax on any and all income regardless of the country you happen to be in at the time.
There is a some credit for tax paid to foreign entities.