Car rental on H1B(Turo)
Is it possible to rent out cars while on H1B without violating workauthorization. seems to be like a grey area as I don’t see a conclusive answer about this online. Would like to know the thoughts of someone in this community who does rent out cars on a work visa ?
Don’t
Any specific reason ?
😂
I do it for past 1yr
No.
You can do it and consider income under passive income. Turo has this listed in their website. There is a limit to how much you can earn. If you earn a lot or above $xx, then IRS will consider it as active income and that would affect your H1B status.
I don’t see them pointing to visa requirements anywhere ? Do you mind sharing the link ?
You’ll get a 1099 if you earn more than some amount. On H1b you cannot get a 1099 So, no, you cannot rent it on Turo. If you want to be very sure, check with a a few immigration attorneys. (Because most of them won’t know what they are talking about and you cannot trust what they say)
1099 comes from sale of stocks also. It also comes from earning dividends on stocks owned. So you’re saying that 1) on H1 b, you can’t trade stocks in the US market ? 2) which means that the companies can’t offer RSUs as compensation to their employees because selling those after vesting, will result in generation on a 1099 at the end of the tax year. Get your facts right before speaking.
@twCh12 looks like you have all your facts right. Why don’t you share with some Insights? 🤷🏽♂️ Stocks trading has 1099 for dividends, gains and misc. not sure how it works for RSUs. IRC, IRS doesn’t care about your earnings as long as you pay taxes on it. It’s a matter of scrutiny when you apply for GC / citizenship etc by the USCIS. I chose not to take any risk with any of these platforms because they don’t care if you get deported. As it is, Indians on H1b are shackled for life. What’s the point of risking becoming a scape goat for a few $$$?
I’m still not sure if it’s okay
Don’t do that on H1B
Isn’t that supposed to be a passive income like stocks and house rental ?