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I am greencard holder I have a place in NYC, but I live and

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work in the UK...
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: 2 years ago.Category: Tax
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Answered in 4 minutes by:
11/12/2015
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,162
Experience: Taxes, Immigration, Labor Relations
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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.

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Tax Professional: Lev, Tax Advisor replied 2 years 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.

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Tax Professional: Lev, Tax Advisor replied 2 years ago

I appreciate if take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.

If you still have any doubts, need clarification - please be sure to ask.
I am here to help you will all tax related issues.

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Lev
Lev
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Satisfied Customers: 30,162
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