Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

I am a non resident alien,i have a transacted on shares through

Customer Question
a broker in USA.I have...
I am a non resident alien,i have a transacted on shares through a broker in USA.I have a notice from the IRS detailing capital gains tax demand.I want to authenticate if it is a geniune letter from the IRS and if content there in is proper.
Submitted: 4 years ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 5 minutes by:
9/19/2013
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 4 years ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,263
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Lane :

Hi,

Lane :

Yes, see this from IRS:

Lane :

Taxation of Non-Resident Aliens:

Who Must File

If you are any of the following, you must file a return:

  • child last-child">A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during the year. You must file even if:
    • Your income did not come from a trade or business conducted in the United States,
    • You have no income from U.S. sources, or
    • Your income is exempt from income tax.
Lane :

However, See this, NOTE: If your only U.S. business activity is trading in stocks, securities, or commodities (including hedging transactions) through a U.S. resident broker or other agent, you are NOT engaged in a trade or business in the United States.

JACUSTOMER-rukwncjx- :

if i have earnings from a transaction,sale of shares,for the tax due,would the IRS demand i pay first or should they not deduct from what is due to me

JACUSTOMER-rukwncjx- :

direct and the broker can send the net due?

Lane :

Sometimes, depending on whether a 1099-B was sent to IRS from your broker, they will send out a demand for the amount due based simply on the gain that was reported by your broker to them ... (forcing you to file a return to ahow that the tax is or is no due, based on your circumstance)

Lane :

sorry for the typo (to "show" that the tax...)

Lane :

BUT If you receive a phone call, fax or letter in the mail from an individual claiming to be from the IRS but you suspect they are not an IRS employee, contact the IRS at 1-800-829-1040 to determine if the IRS has a legitimate need to contact you. Report any bogus correspondence.

JACUSTOMER-rukwncjx- :

it was addressed to me but recieved by the broker,i dont believe them? the irs even say that i should not contact them but through the broker?? the whole deal may be a scam?

Lane :

NO that is most likely a scam

Lane :

IRS would never tell you to pay dollars to another entity

JACUSTOMER-rukwncjx- :

ok,you say i should call the number,and then maybe i can report these scamers,they are operating live now,by the way i am in africa,nairobi

Lane :

OR to contact them THROUGH someone else, So sorry, but this sounds VERY suspect

Lane :

Yes, pleas do... you will be helping others

JACUSTOMER-rukwncjx- :

thank you,i will,much appriciated.

Lane :

You are welcome ... good intuition

Lane :

If this has helped, I would appreciate a rating of 3(ok) or better. (That's the only way I'm paid) ... However, if you need more on this, please come back here so you won't be charged for another question.

Ask Your Own Tax Question
Ask Lane Your Own Question
Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,263
13,263 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

Lane 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

1,300 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
Can you help with a capital gains tax question. We are
We are selling 100 acre hobby farm. We are not gst registered and do not make money from it: … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,797 satisfied customers
On form 1041, capital gains have to be taxed at the estate
On form 1041, capital gains have to be taxed at the estate level, correct? No distribution deduction may be taken?… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,263 satisfied customers
What are the turm capital gains tax on properties that are
what are the long turm capital gains tax on properties that are in germany? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
I am currently a nonresident alien, but I anticipate that I
I am currently a nonresident alien, but I anticipate that I will be a resident alien for 2018, as I expect to be present in the US for the entire year. I am being asked my my employer to provide them … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
My question is about taxation of capital gains on equities,
Hello, My question is about taxation of capital gains on equities, like stocks, options, futures of F1 students. Here the facts:1. F1 student for 4 years in the US2. student does not get any income wi… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,074 satisfied customers
I'm working to understand capital gains tax for California
I'm working to understand capital gains tax for California property purchased 4 years ago. It's a primary residence, purchased 4 years ago for $385k with $285k principle outstanding. Expected sale price of $630k … read more
abci168
abci168
Principal
27 satisfied customers
I'm canadian who want to understand capital gains tax rate.
Hi, i'm canadian who want to understand capital gains tax rate.I have a rental house that i bought at 500K. I sold it after 9 yrs at 1100K. With the money, i bought a new house (will be my primary res… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,797 satisfied customers
I have bitcoin and I want to avoid the capital gains tax and
Hi I have bitcoin and I want to avoid the capital gains tax and dont want it to be ordinary income what should I Do … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,074 satisfied customers
Does a non-resident alien need to file a tax return on
Does a non-resident alien need to file a tax return on interest income received from a US business loan?… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,263 satisfied customers
What is the capital gains tax on proceeds of the sale of a
What is the capital gains tax on proceeds of the sale of a home? … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,280 satisfied customers
Do Florida residents have to pay State capital gains taxes
Do Florida residents have to pay State capital gains taxes on the sale of FL business &/or personal assets?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,797 satisfied customers
Multi State Taxation 1. Taxpayer is incorporated in one
Multi State Taxation1. Taxpayer is incorporated in one State and also has certificate of authority to work in another state. However, entity has employees and processes and files payroll tax return in… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,263 satisfied customers
Does an IRS agent qualified to prepare capital gain taxes, I
Does an IRS agent qualified to prepare capital gain taxes … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,074 satisfied customers
I have question regarding capital gain taxation, I have real
Hello I have question regarding capital gain taxation … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,280 satisfied customers
A Nonresident Alien just took steps towards becoming a a
A Nonresident Alien just took steps towards becoming a a U.S. Permanent Alien in June 2017. He is an airline pilot with a tax home in Hong Kong. He has a Mandatory Provident Fund established with the … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
Is a non-resident alien who has paid capital gains on a
Is a non-resident alien who has paid capital gains on a property required to pay a gift tax if the money is given to a child. (grown) The donor has no income in 2016. … read more
Lane
Lane
JD, CFP, MBA, CRPS
13,263 satisfied customers
My mom is a nonresident alien, she spends 1 month out of a
My mom is a nonresident alien, she spends 1 month out of a year in the US. If the has a brokerage account in the US, and buys and sells domestic stock, are capital gains, short or long, tax exempt?… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,263 satisfied customers
How do you report nonresident alien (someone does not have
How do you report nonresident alien (someone does not have green card or non US citizen) 's capital gain on sale of stock… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,797 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