Hi all, I am facing the following situation.
I used to be a NY resident but I left the country. I have an EU passport. In 2009 I haven't been to NY at all. Before I used to fill in a 1040EZ form. Now I just have a tourist visa to US.
I suppose I have to use a 1040NR to report rental income tax from a NY apt (+ bank dividents)? Do I fill a NY tax return? Total income should be in 15,000-20,000 range.
thank in advance.
Do you also have a US passport? If yes, you have to file a 1040.
If not, when did you expatriate from the US? If on June/17/2008 or later, then you have to deal with the expatriation tax. I'm of the opinion that you have to also file a 1040-NR for at least 10 years.
If within the 10 year period after expatriation you were in the US for more than 30 days, you are taxed as a citizen. That means you file a
1040 and report your worldwide income, although you do get a foreign tax credit for tax paid to your EU country.If you are in the US for 30 days or less, then 1040-NR is the right form. Your rental income and expenses are on the page 1 and are taxed at the same rates as citizens. You don't get the standard deduction, but you do get the itemized deduction, which will include things like tax paid to NY, charitable contributions, etc. On your EU tax return you probably have to report this income and take a credit for taxed paid to the US.
I'm not sure what bank dividends are. Is it bank interest or dividends from a bank stock? Section 871 says that bank interest is not taxable, and section 877(d) does not appear to make bank interest when within the 10 year period. Dividends are taxed at a flat 30%.
You're not a NY resident, but you do have to file a NY non resident tax return for your NY rental. Rental from a NY apartment is NY source income.
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