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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29571
Experience:  Taxes, Immigration, Labor Relations
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I am greencard holder I have a place in NYC, but I live and

Customer Question

I am greencard holder I have a place in NYC, but I live and work in the UK . What's the rate of tax federal and ny state? I have no income generated in USA
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

Hi and welcome to our site!

First of all - as a green card holder - you are classified as a resident alien for US income tax purposes - and that is regardless where you live and work.
As a resident alien - you are taxed on ALL your worldwide income regardless of its source and are required to report all your worldwide income.
So it would not matter if your income is generated from US sources or from sources abroad.

Expert:  Lev replied 1 year ago.

However if you are a UK resident - and your income is taxed in UK - you will be eligible to claim a foreign tax credit - thus effectively you will avoid double taxation of the same income.
Please be aware that you might be eligible to claim foreign earned income exclusion.
That exclusion is applied ONLY to foreign earned income - wages and self-employment income - and is not applied to unearned income such as interest and lottery winnings.

In additional - that is NOT an automatic tax exemption - but you would need specifically claim ALL income on your tax return and then a foreign EARNED income exclusion on form 2555.

Expert:  Lev replied 1 year ago.

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