Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax
This answer was rated:

I am not a US citizen but have investments in the US stock

market through Ameritrade. They sent...
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
Show More
Show Less
Ask Your Own Tax Question
Answered in 33 minutes by:
4/9/2012
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1,316
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues
Verified
Hello,

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.

Regards,

Mark D
Ask Your Own Tax Question
Customer reply replied 5 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.

 

Thanks,

 

 

Louay

Louay,

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.

Regards,

Mark D
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1,316
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues
Verified
Mark D and 87 other Tax Specialists are ready to help you
Ask your own question now
Ask Mark D Your Own Question
Mark D
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1,316
1,316 Satisfied Customers
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Mark D is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,316 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,338 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

13,980 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
I'm trying to file my G7 withholding return for 09/2017 but
I'm trying to file my G7 withholding return for 09/2017 but have no idea how to do it … read more
Patrick Mullis
Patrick Mullis
Masters
17 satisfied customers
On a NJ W-3 form, is line 3 the NJ Gross income tax withheld
On a NJ W-3 form, is line 3 the NJ Gross income tax withheld or is that supposed to include unemployment tax, FLI, SDI, etc... as well… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
Looking for the statute of limitation on the collection of
looking for the statute of limitation on the collection of WI taxes. in particular for withholding taxes from 21 years ago … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Is Gift Tax form 709 filed like a return by April 15th? Or,
is Gift Tax form 709 filed like a return by April 15th ? Or, is it filed the year the gift was given? thank you … read more
abci168
abci168
Principal
27 satisfied customers
Is there a form to file with the IRS for tax periods that
Is there a form to file with the IRS for tax periods that have ran past the statute of limitations from the date of assessment … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Will my filing of federal taxes by the April deadline be
Will my filing of federal taxes by the April deadline be according to the current set of laws (e.g. unlimited deduction of state and local taxes) or will the new "reformed" tax bill and its new rules … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,777 satisfied customers
Under the new tax plan if my federal adjusted gross income
Under the new tax plan if my federal adjusted gross income is $77,230.00 how much are my federal taxes? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,777 satisfied customers
If my gross income is 30000, not married and no dependents,
If my gross income is 30000, not married and no dependents, can you tell me approximately how much I would expect to pay in federal tax, state tax and SS? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
On line 37 my 2015 Form 1040 I had an adjusted gross income
On line 37 my 2015 Form 1040 I had an adjusted gross income of $291,546. on my Amended 1040X for 2015 I have taxable income of $179,542. How do I get proof of this to get an adjusted MAGI to give to M… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,777 satisfied customers
A law firm (which is a Schedule C filer) has gross income of
A law firm (which is a Schedule C filer) has gross income of 1,000,000 & Net Income 0f 280,000. In the tax reform just passed, there is a 20% deduction for law firms that have income less than 315,000… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,061 satisfied customers
My gross income is $17,105.64. Do I have to file a tax
My gross income is $17,105.64. Do I have to file a tax return? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,777 satisfied customers
Self employed, Im wondering if inmigration uses gross income
Self employed, Im wondering if inmigration uses gross income or net income for their figures... I make about 70,000 gross income on 1099 but after deductions net income is about 32,000.. we are a fami… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Since the deadline to file 2016 taxes is Jan2018 what is the
since the deadline to file 2016 taxes is Jan2018 what is the deadline to deposit in my IRA credited to 2016? … read more
abci168
abci168
Principal
27 satisfied customers
Wanted to know if there was statute of limitations on ga
Wanted to know if there was statute of limitations on ga back taxes … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,061 satisfied customers
I filed for an extension to file my 2017 income tax return.
I filed for an extension to file my 2017 income tax return. I recently suffered a stroke - 6 weeks ago - and have been unable to finalize my return. I should be able to file it within the next 30 days… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,777 satisfied customers
Is there a statute of limitation for sales tax in ohio?
Is there a statute of limitation for sales tax in ohio? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,777 satisfied customers
R I TOWNS AUTO TAX - IS THE STATUTE OF LIMITATIONS 15 YEARS
R I TOWNS AUTO TAX - IS THE STATUTE OF LIMITATIONS 15 YEARS -FOR THE COLLECTION OF PAST AUTO TAXS … read more
abci168
abci168
Principal
27 satisfied customers
TAX: Is there a statute of limitations for filing tax
TAX: Is there a statute of limitations for filing tax returns? Taxpayer has not filed since 2005 and wants to file 2006 - 2014. 2015 and 2016 are filed.… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x