How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Mark D Your Own Question
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1304
Experience:  MBA, EA, Specializing in Business and Individual Tax Returns and Issues
Type Your Tax Question Here...
Mark D is online now
A new question is answered every 9 seconds

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

This answer was rated:

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 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.







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
Mark D and other Tax Specialists are ready to help you