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keeperumiami
keeperumiami, Sr. Tax Consultant
Category: US Tax
Satisfied Customers: 7195
Experience:  Senior US Tax Consultant;40 Years Practicing CPA; Personal Financial Specialist;Now Retired Sole Practitioner
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I am a uk citizen and am selling us shares.I have submitted

Customer Question

I am a uk citizen and am selling us shares.I have submitted my 8-WEN form,what is the situation regarding the tax in america
Submitted: 1 year ago.
Category: US Tax
Expert:  keeperumiami replied 1 year ago.
MeIf you are a Non-Resident alien (non-green card holder or don't meet the substantial presence test), there would be no US income tax on any capital gains. However, any dividends would be subject to the 30% withholding tax. Just to be certain of your classification as a Non-Resident Alien (UK Citizen sounds better but that's not the test) the following are the requirements for meeting the substantial presence test which would mean you would be deemed a Resident Alien and be subject to all of the same taxes as a US Citizen.Substantial Presence TestYou will be considered a U.S. resident for tax purposes if you meet the substantial presence test for calendar year 2015. To meet this test, you must be physically present in the United States on at least:1. 31 days during 2015, and2. 183 days during the 3-year period that includes 2015, 2014, and 2013, counting:a. All the days you were present in 2015, andb. 1/3 of the days you were present in 2014, andc. 1/6 of the days you were present in 2013.
Expert:  keeperumiami replied 1 year ago.
Just checking in...............I see that you have been able to review my response; do you have any further follow-up questions?If not, please remember to rate my response as that is the only way we receive credit for our work.Thanks very much,Steve G.