topic Hi, if a non-US resident earned less than 12.4k in 2020(Capital gains), are they exempt from filing taxes? in Get your taxes done using TurboTax

Hi, if a non-US resident earned less than 12.4k in 2020(Capital gains), are they exempt from filing taxes?

andylitax — Fri, 26 Mar 2021 19:12:24 GMT

Re: Hi, if a non-US resident earned less than 12.4k in 2020(Capital gains), are they exempt from filing taxes?

pk — Fri, 26 Mar 2021 19:39:54 GMT

@andylitax cannot fully answer --- are you a US Resident for tax purposes or are you a Non-Resident Alien living in the USA or a Non-Resident Alien living abroad with US income; which country are you a citizen/resident of ?

Generally , I would say you still have to file , even if the tax liability is zero -- there also may have been withholding requirements based actual facts and circumstances.

So please answer with the details asked for

Re: Hi, if a non-US resident earned less than 12.4k in 2020(Capital gains), are they exempt from ...

MinhT1 — Fri, 26 Mar 2021 19:43:27 GMT

If a nonresident alien has capital gains not effectively connected with the conduct of a trade or business in the United States, he has to file a nonresident tax return (form 1040-NR).

The capital gains are taxed at a flat rate of 30% if the alien is present in the US for more than 183 days in the tax year.

Please read this IRS document for more information.

Re: Hi, if a non-US resident earned less than 12.4k in 2020(Capital gains), are they exempt from filing taxes?

andylitax — Sat, 27 Mar 2021 12:15:31 GMT

For a non-Resident Alien living abroad with US income with less than 12.4k earned in 2020. Nationality of Suriname (South America). It is a country who does not issue TIN. Also single, and under the age of 65. Thanks.