Is there any stocks trading income tax on hong kong international student?

Answers:1   |   LastUpdateAt:2012-07-27 00:30:02  

Question
Zanobia
Asked at 2012-07-15 20:48:02
Im a student from Hong Kong
Interntional a couple of questions about stock trading as an international student

1 . Do I need to tell my P n L from daytrading ?
2 . If so .. What is the rate ? And how I can do that ?


THX
Answer1adore001Answered at 2012-07-27 00:30:02
You are subject to U.S. tax laws while here . You file a tax return, probably a non-resident foreign exchange on Form 1040 - NR because you are a student of
.
If you really are a day trader , consult a tax professional like an accountant or tax attorney who specializes in that kind of risk. The rules are complex drading days , and if you mess up , the cost can be surprisingly high.

If you are just running a typical equity portfolio , the gains are taxable . If you held a stock for one year or less are taxed as ordinary income. If held for more than a year is taxed as a capital gain in the long term, usually 15% less than their marginal rate is 15% or less which are taxed at 5%.

You can also have a tax treaty that affects you. Again, consult a tax expert on the subject, as it can get complicated.
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