turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

H1B visa: Do I have to pay taxes on equity encashed from a company based abroad?

Dear pk,

 

Thank you so much for your detailed, patient, and helpful explanations! I have one last question: Considering the tax implications, I am thinking about exercising my option to buy shares now and then selling them after one year. Does my H1B visa allow me to hold shares of a foreign company?

 

pk
Level 15
Level 15

H1B visa: Do I have to pay taxes on equity encashed from a company based abroad?

Dear @roalddahl14 ,. your visa status in and of itself  does not impact your ownership of  foreign or domestic assets.  However, once you become a US person ( citizen /  GreenCard / Resident for Tax purposes ) US treasury regs come into play -- FBAR, FATCA and  doing business with sanctioned persons and/or countries.  You are treated just like all other US persons.

 

Hope this clarifies   your concerns.

 

Namaste ji

 

pk

H1B visa: Do I have to pay taxes on equity encashed from a company based abroad?

Thank you. I am resident for tax purposes (I have been in the US since 2018). So, am I still allowed to own shares of a foreign company?

H1B visa: Do I have to pay taxes on equity encashed from a company based abroad?

Dear pk,

 

Thank you. I am resident for tax purposes (I have been in the US since 2018). So, am I still allowed to own shares of a foreign company?

pk
Level 15
Level 15

H1B visa: Do I have to pay taxes on equity encashed from a company based abroad?

@roalddahl14 , there is no prohibition on US persons owning equity of foreign entities  UNLESS it is a sanctioned  entity ( by US Treasury ).   Bosch India is certainly not on that list.   So enjoy your equities.

 

 

Namaste ji

 

pk

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies