Do I need to need file taxes if my AGI is too low?

[tomar-gautam2]

Hi!

I earned around $1560 from dividends and $600 from capital gain in 2023. I was unemployed and out of country of full 2023 and didn't receive any benefits. I'm also carrying capital loss carryover of $18k from previous year. My status for year 2023 is non resident alien as I'm not a citizen or PR holder. Do I even need to file taxes as my AGI is barely $2k plus? Can I skip filing taxes this year and carry previous capital losses to next year?

Thanks! 

[JamesG1]

If you are a nonresident alien, you would file an IRS form 1040NR.  TurboTax does not prepare those tax returns.  

Please contact Sprintax who may be able to assist you in filing an IRS form 1040NR.

The filing requirements for IRS form 1040NR may be found here in the IRS form 1040NR Instructions on page 6.

You do not mention your visa status or whether you could qualify as a resident alien under the substantial presence test.  You may post that here or contact Sprintax for direction.

Capital losses may be carried forward indefinitely until fully utilized or exhausted.

[tomar-gautam2]

Hi! I worked on H1b Visa and left USA in 2022. I was not present in USA in 2023, not even for a single day. So, I'm sure that I'm a non-resident alien. So, I want to know if I have to file taxes on low income? My total income from USA sources are $2160 ($1560 dividend and $600 for investment). I didn't make any money in home country. 

I read non resident alien guide- page 6 of https://www.irs.gov/pub/irs-pdf/i1040nr.pdf

It says if one is engaged in USA business/trade, they should file taxes even if they make no money. I don't think it applies on me as I made money through passive investment. Rest of the clauses don't apply to my situation. It's little hard to understand their jargon at times. 

[DaveF1006]

Yes, since you earned income in  2023, you will need to file a 1040 NR.  Turbo Tax does not prepare non-resident returns but our affiliate at  Sprint tax does. 

@tomar-gautam2