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Any dependent being claimed on a US tax return must have a US Social Security number or an ITIN issued by the IRS.
If they have neither then you cannot claim them as dependents.
They are not dependents. I am an Independent but also under 24 years of age so turbotax requires that I enter their information. Do I need to submit a written application instead of an E-file?
@joshsshan wrote:
They are not dependents. I am an Independent but also under 24 years of age so turbotax requires that I enter their information. Do I need to submit a written application instead of an E-file?
If you are a US resident or US citizen under the age of 24 and have unearned income, interest, dividends or capital gains, of more than $2,200 and you were a full time student with earned income that did not provide over one-half of your own support then the Form 8615 is required.
Since your parent's are foreign nationals how you complete the SSN section is an issue.
Let me page one of our experts who may know the answer. @pk Do you have any insight on how to complete a Form 8615 when the parents are foreign nationals without a SSN or ITIN?
@joshsshan , agreeing with all the statements by @DoninGA and thinking that we do not have enough information here to really take a position ---- (a) are you US citizen/Resident/Resident for tax purposes; (b) are you a student or a wage earner or what ; (c) are your parents ( Non-Resident Alien ) US person for tax purposes i.e. they have earnings from US sources ; (d) your Non-Earned /passive earnings are from what-- from your parent's investment or what; (e) and if so, are they filing a US tax return or just in their resident/home country; (f) which country are we talking about ?
We need all of this because form 8615 is really for US under age or students under 24 where the parents are also US persons. Answers to the above questions will help determine this.
And if you are foreign student here in the USA then we need to be sure that you are eligible to file form 1040 ( we will need to know when you entered USA, which visa etc. etc,
a) I am a US citizen
b)I was a university student until May 2020
c) Live in South Korea right now and do not pay US taxes
d) Most of my earnings are from the Unemployment grant
e)Just foreign taxes
f)South Korea
If your parents are filing their own return, they would need to use Sprintax, which is a partner software that handles nonresident federal tax returns.
@joshsshan , noting that you are US citizen, living in Korea now and that your income is really from "unemployment grant" and assuming that the grant is from Korea sources, your filing requirement for the USA is on your world income and if that is less than the sum of (a) personal exemption ( zero currently) and (b) standard deduction ( currently US$12,000 for a single), there is really not much benefit filing a return -- except for getting the economic stimulus . So I am at a loss why you were asking about the form 8615 and your parents being NRA -- what am I missing here.
Please correct me --pk
Hello. I was using TurboTax to file capital gain tax but encountered the same problems.
My info:
1. Non-U.S. Citizen but I am considered U.S. Resident Alien for tax purposes since I have been here for more than 6 years. I currently reside in the U.S.
2. Parents are foreign nationals and do not live in the U.S.
3. My capital gains including interests, dividends, gains on stocks have exceeded $2200
4. Recent U.S. college graduate, currently 23 years old.
Do I still need to file Form 8615 even if my parents are foreign nationals and do not have SSN?
I think I am qualified for tax treaty exemption. Can I still file this exemption?
Thank you!
It depends. First of all, you would not file a 8615 unless you are filing as a dependent on your parent's return. If they are a dependent on your return, you would not file a 8615.
Secondly regarding exempt status, did you have a a student visa? If so what kind and is it still active? If not, when did it expire?
@zeshi97 , adding to @DaveF1006 answer to your post :
(a) when did you enter this country ( 2015 ?? ) and with what visa ( F-1? );
(b) what visa are you now under ( F-1/OPT or H-1B or ?? )
(c) if there was an adjustment to your status, when did that take place;
(d) you seem to suggest that while filing with Sprintax you "still" filed form 8615 -- why
(e) which country are you from
(f) are you married and if so to whom ( US citizen/ US resident/ US resident for tax purposes or Non-Resident Alien)
(g) these incomes ( stocks sales/interest/dividend ) are through US brokerage / financial institution or foreign stocks/ banks etc
(h) Do your parents have any income from the USA sources or is it that it is their US sourced income that is coming to you as nominee or what ?
pk
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