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61 votes

Do I pay gift taxes in US, if I send money (>$15000) to my father in India?

What is considered a gift?Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money's worth) is not received in return. https://www.irs.gov/...
Acccumulation's user avatar
8 votes
Accepted

Can a F-1 student visa holder loan a car from bmw?

Most states do have a cooling-off period where the buyer can rescind the purchase as well as a legally allowed limit to how long the dealer has to secure financing when they buyer has opted for dealer-...
NL - Apologize to Monica's user avatar
7 votes

Do I have to pay a Health Care Tax Penalty for my F-1 spouse?

According to the IRS (look at the 11th question on this page) a nonresident alien is not covered by the individual mandate. If your wife has been in the country for less than 5 years on the F-1 visa, ...
NL - Apologize to Monica's user avatar
5 votes
Accepted

U.S. nonresident alien: Is my state tax refund taxable?

Federal income tax refunds received during 2016 are not taxable income for 2016 (or any other year) on either the Federal or the State tax return. The State income tax refund for 2015 received during ...
Dilip Sarwate's user avatar
4 votes

Is Stock Trading legal for a student on F-1 Visa in USA?

It is absolutely legal. While studying on a F-1 you would typically be considered a non-resident alien for tax purposes. You can trade stocks, just like any other foreigner having an account with a US-...
MaxVT's user avatar
  • 171
4 votes
Accepted

Is Stock Trading legal for a student on F-1 Visa in USA?

As an F1 student, I have been investing (and occasionally buying and selling within few weeks) for several years, and I have never had problems (of course I report to IRS gains/losses every year at ...
JayJay's user avatar
  • 206
4 votes

Passive income for International student

I'm not sure how it relates to a F1-Visa. Nestor Ledon say's there aren't any restrictions, so I'm going to agree with him there. There are a lot of different ways to make passive income. A quick ...
Corey P's user avatar
  • 558
3 votes

Non Resident alien income tax, moved from F1 to H1B on October 1st

Do I need to file 1040NR along with form 8889 in place of 1040NR-EZ. Yes, because 1040NR-EZ does not support HSAs. (1040NR has it on line 25.) If yes, can I use the Standard Deduction ...
user102008's user avatar
  • 17.2k
3 votes

F1 student and eBay selling tax

If you have income - it should appear on your tax return. If you are a non-resident, that would be 1040NR, with the eBay income appearing on line 21. Since this is unrelated to your studies, this ...
littleadv's user avatar
  • 176k
3 votes

Healthcare requirements for J-1 married to US Citizen

J-1s who are not students are considered teachers or trainees, who are exempt individuals (exempt from the Substantial Presence Test) during the time on J-1 unless they have been exempt individuals ...
user102008's user avatar
  • 17.2k
3 votes

Is filing taxes necesssary for a non-resident alien working remotely from abroad

From tax perspective - no, she doesn't have to pay taxes in the US. Without filing a tax return claiming her non-resident status, the IRS (and the State) will indeed think she is a US resident and is ...
littleadv's user avatar
  • 176k
2 votes

How do I file 2015 taxes for F-1 OPT till Sept 30, 2015 to H-1B from Oct 1, 2015?

You are a nonresident alien for all of 2015, because you do not satisfy the Substantial Presence Test for 2015. Time on F1 is as an "exempt individual" (exempt from the Substantial Presence Test) ...
user102008's user avatar
  • 17.2k
2 votes

Passive income for International student

There are no legal restrictions in regards to passive income for an F1-visa holder so long as you report gains to the IRS. So any passive investment advice should apply to you.
Nestor Ledon's user avatar
2 votes
Accepted

H-1b visa holder with F-1 spouse filling tax jointly

Yes, your wife will need an ITIN, according to the IRS General ITIN Information: If you do not have a SSN and are not eligible to obtain a SSN, but you have a requirement to furnish a federal tax ...
Bradd Szonye's user avatar
2 votes

Previous Employer withheld FICA taxes. Gave me W2C after I filed for taxes

According to this, if your employer will not refund FICA taxes withheld in error, you need to file forms 843 and 8316 with IRS. Unfortunately, I have heard that it sometimes takes years for them to ...
user102008's user avatar
  • 17.2k
2 votes
Accepted

Dual status tax filing and residency starting day

If you meet the Substantial Presence Test for 2016, then you are a resident alien for all of 2016, and if you don't meet the test for 2016, then you are a nonresident alien for all of 2016. Dual-...
user102008's user avatar
  • 17.2k
2 votes

W-7 form for F-2 visa?

If you wish to file jointly, she does need an ITIN. (Edit: filing jointly is not possible according to your answer below and some comments.) If it would make a difference on your taxes to file form W-...
NL - Apologize to Monica's user avatar
2 votes

F-1 student investing in foreign markets

You cannot have off-campus employment in your first year, but investments are considered passive income no matter how much time you put into that effort. Obviously you need to stay enrolled full-time ...
NL - Apologize to Monica's user avatar
2 votes

Is Stock Trading legal for a student on F-1 Visa doing CPT in USA?

There are no legal reasons preventing you from trading as a F-1 visa holder, as noted in this Money.SE answer. Per this article, here are the things you need to set up an account: What do I need ...
JW8's user avatar
  • 1,105
2 votes

F-1 Visa expired - Unable to repay private student loan. What to do?

I would contact your loan servicing company explain the situation and see if you can renegotiate terms. They may be able to drop the interest rate or lengthen the schedule to reduce the payment amount....
Scott's user avatar
  • 23
2 votes
Accepted

Is buying and selling Bitcoin (and other cryptocurrency) legal for a student on F-1 Visa doing OPT in USA?

Given your clarification that you re only intending to use cryptocurrency as a capital asset & a long term investment vehicle, and not as a business day trading or trading for others, I would say ...
Leon's user avatar
  • 4,107
2 votes

Can I work in US as well as India when on F-1 visa

An F-1 student can work in a few circumstances: Working on campus Working on CPT Working on OPT once you get an EAD Working on an EAD obtained for economic hardship Remote online work wouldn't be ...
user102008's user avatar
  • 17.2k
2 votes

Married Filing Jointly, moved from F1 to H1B on November 6th

First, note that just because you are on F1 doesn't necessarily mean you do not pass the Substantial Presence Test. Your days in F1 status are not exempt from the Substantial Presence Test if you have ...
user102008's user avatar
  • 17.2k
2 votes
Accepted

Legal issues for selling software for a student on F-1 visa

Here is a simple plan that works in real life for such garage-hobby undertakings: Simply go ahead and run this "product" using bitcoin. Just don't worry at all about any paperwork issues. ...
Fattie's user avatar
  • 13.8k
2 votes
Accepted

Can a student with F-1 visa status in USA invest using Robinhood app? If yes, how can we pay taxes including this investments?

DISCLAIMER: Please use this answer at your own risk. Check/confirm with your school's Tax department and International Affairs office because of dynamically changing visa regulations recently. I did ...
tu_curious's user avatar
2 votes

Am I a US resident?

It is not true that you "will only become a resident alien after 183 days." Rather, you will only know whether you pass the Substantial Presence Test for 2020 in 183 days. But if you pass the ...
user102008's user avatar
  • 17.2k
2 votes
Accepted

Can I file tax for both F1 and H-1B partially the first year?

First, you would only be a nonresident alien for 2020 if you were an "exempt individual" in your days in F1 status, which would only be true if you had been an exempt individual as part of ...
user102008's user avatar
  • 17.2k
2 votes

Can F1 students in the US earn Social Security work credits?

Can they earn Social Security work credits? (e.g., can the stipend be used to earn Social Security work? F1 and J1 visa holders who are not US residents for tax purposes are also exempt from FICA ...
littleadv's user avatar
  • 176k
2 votes

What are the earning opportunities for international students with F-1 Visa in USA?

No, aside from CPT or OPT you can only work on-campus, up to 20 hours a week. Usually that would be teaching assistant, grading papers, or support staff for the university. Is it possible and legal ...
littleadv's user avatar
  • 176k
2 votes

File as single or married separately?

You cannot file as single if you're married. You can either file as "married filing jointly" (MFJ), or as "married filing separately" (MFS). Non-residents, with some exceptions, ...
littleadv's user avatar
  • 176k

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