Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jan 10, 2025 8:28:29 AM

I am no longer a resident in US and don't have W2 for year 2024. I have around 14 K investments with no trade done. My daughter is an US citizenShould I file tax returns?

0 5 5246
5 Replies
Level 15
Jan 10, 2025 9:46:58 AM

@nshivakumar20 , Namaste ji.

(a)  When did you enter the USA , with which visa, when did you leave the USA, were there any visa status adjustments during your stay here in the USA?

(b)  Do your US investments  ( liquid / semi-liquids )  produce any   recognizable  income ? 

( c)  Is your  daughter a minor , per US rules or emancipated ( per US court-order ) ?

(d) Which country are you from   ( India ? ) ?   Are you residing and earning in that country ?

 

Very generally, a Non-Resident Alien needs to file a tax return ONLY when there is  US sourced income involved.

I will circle back once I hear from you.   If need  be you can PM me 

 

Is there more I can do for you ?

New Member
Jan 10, 2025 11:30:44 PM

Hi Thank you for your response and please find below with my 

 

a)  When did you enter the USA , with which visa, when did you leave the USA, were there any visa status adjustments during your stay here in the USA? 

I Entered in 2007 on H1 and filing taxes continuously until 2023. I left US in Nov. 2023. All the years I was on Work Visa H1B   

(b)  Do your US investments  ( liquid / semi-liquids )  produce any   recognizable  income ? 

US Investments Around 8K in stocks Robinhood & 8K in Crypto in coin base. I did not do any trade with these investments. 

( c)  Is your  daughter a minor , per US rules or emancipated ( per US court-order ) ?

She is minor and US Citizen

(d) Which country are you from   ( India ? ) ?   Are you residing and earning in that country ?

India and Yes I earning here 

Expert Alumni
Jan 13, 2025 4:17:30 PM

No. Since you are not a US Citizen and are no longer a resident of the US and have no source of US income (since you did not sell or trade any of the stock or Crypto), you would not have any US taxable income, so you would not need to file a return.

Having a daughter that is a US citizen does not affect your filing status as taxes are based on the individual, not family members.  If she works in India or the US, as a US Citizen, all income is taxable to the US even if she is a minor.  She would need to file a return like any other US Citizen.  

U.S. citizens and residents abroad – Filing requirements

New Member
Jan 14, 2025 6:53:57 AM

Hi, Thank you for your response and clear explanation. one last question "Will I be eligible to claim Child Credit by filing the return"? 

Level 15
Jan 14, 2025 11:53:29 AM

@nshivakumar20 , while I generally agree with  @Vanessa A ,  I still have   more questions: 

 (a) since you left the USA in 2023  ( when exactly ?), did you file a 2023 return ?   

(b) Because you were here  for  more than 10 years   2007 through 2023 ), you would have been considered long-term resident ( for tax purposes ).  Thus you  would have been required to get exit permit  ( basically IRS wants to make sure that it can collect all due taxes .  There i may also be  "mark-to-market " requirement for  assets  you  owned at the time of departure.  Therefore the question , did you inform IRS ?

 

Here is  something on that subject--->  Departing alien clearance (Sailing permit) | Internal Revenue Service

  If you have not met /filed the 1040-C, IRS  may choose to still consider you a resident for tax purposes.   I hope you have  informed both the IRS and the  USCIS -- note the acceptance by USCIS of notification does not drop the requirement of 1040-C .

 

Is there more I can do for you ?   If you details are  not of general interest ( or for any reason ) you can PM me with details  ( just NO PII -- Personally Identifiable Information )

 

pk