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Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1249
Experience:  MBA, EA, Specializing in Business and Individual Tax Returns and Issues
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I am not a US citizen but have investments in the US stock

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I am not a US citizen but have investments in the US stock market through Ameritrade. They sent me a form 1042-S with a tax withholding of $793.01. Gross income is $3,649.05. Do I need to file a tax return? If yes, can you help?
Thanks, Louay

I am assuming you have no presence in the US. You will need to file Form 1040NR to report your investment income and/or losses. Based upon your above information, it would appear you may actually get back the $793 in withholdings when you do file. Please let me know if you have any questions.


Mark D
Customer: replied 4 years ago.

I am not in the US. Correct. If I do not not file, what would happen. Am i legally required to file and if yes, what is the deadline.







You do meet the filing requirements and I would suggest you file for a few reasons. #1, you start the statute of limitations of assessment, #2 you may get back money, and #3, to avoid potential future issues trading in the US. Deadline this year is 4/17/2012.


Mark D
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