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huguesv
Returning Member

Non resident alien living in the US and Charles Schwab accounts

Hi everyone!

 

I am living in the US with an SSN and paying taxes on US income but I am on a work visa on which I file as a non resident alien.

I wanted to open a Charles Schwab IRA, brokerage and investor checking account but it requires to be a US resident in the tax definition.

 

Schwab told me several times it was fine since I pay US taxes, live in the US and have an SSN but I am afraid it is going to interfere with my filing as non resident for this fiscal year since it might report me as a resident for tax purposes?

 

Would anyone be able to let me know if that would force me to file as resident if I use these accounts and include the 1099-INTs in my tax return next year please?

 

Thanks

 

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2 Replies
pk
Level 15
Level 15

Non resident alien living in the US and Charles Schwab accounts

@huguesv  which country are you from, when were you admitted into the USA and under what visa?  I ask  for  these info bits because  if you are a Non-Resident Alien ( i.e. have not passed the  Substantial Presence Test ), you will have to file your return on form 1040-NR or 1040-NR-EZ  which forms are not supported by TurboTax.  You could also be a dual status taxpayer -- again TurboTax does not fully support this.  Please answer my questions so I can help you 

huguesv
Returning Member

Non resident alien living in the US and Charles Schwab accounts

Thanks for responding @pk , I am German on an F-1 OPT and been there for less than 5 years so I am still exempt from the substantial presence test. I am asking because I use Turbo Tax for state filing and the IRS did not know what to tell me.

 

Thank you

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