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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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I used to be a student in US on F-1 visa. Graduated on 2007

Customer Question

I used to be a student in US on F-1 visa. Graduated on 2007 and leave US on the same year.
I have SSN (not authorize to work).
I'm plannimg to visit US on B1/B2 visa to open an online brokerage account (scottrade etc).
I'm a citizen of Indonesia.
Need help on the tax reporting and form needed based on my current status.
Submitted: 2 years ago.
Category: Tax
Customer: replied 2 years ago.
In addition i need to know how much tax I should pay and how to report it online without being present in US. Because most of the time i will be outside of the US.
Do i entitle to tax refund?
Expert:  Lev replied 2 years ago.
As a nonresident - you will need to provide a signed form W8BEN to the broker.The broker will report all taxable income to you and to the IRS on form 1042 - and will withhold all taxes.Generally - you woudl not need to file the US tax return.As a nonresident alien - some of your investment income woudl not be taxable - for instance - interest income and capital gains woudl not be subject to US federal income tax.Dividends paid by US corporations will be taxable - generally 30% rate is applied to nonresident aliens. However - based on the tax treaty between the US and Indonesia - there will be reduced tax rate 15% for ordinary dividends and 10% for qualified dividends.