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Any suggestions on how to handle tax implications on vanguard etfs (voo,vti) once you move out of USA. I am not a us citizen or green card holder and hence will become a non resident. Heard that usa puts like a 30% tax on dividend and there is a 40% estate tax. What is the best strategy to minimize tax. #nri #etf#nritax#tax #h1btax
but the good thing is that once you move out of USA, there would be no capital gains tax
Why? You are supposed to report gains to IRS right? Or do you mean to say you report taxes to home country? There will be capital gains taxes in that home country also.
I was referring to the US tax. Non-resident aliens don't need to pay tax to IRS for capital gains from stock trades. The only exception is for those who maintain non-resident status but are physically in the US (e.g., F-1 visa holders). They still need to pay the capital gains tax if they stay in the US for long enough. > Nonresident aliens are subject to no U.S. capital gains tax, and no money will be withheld by the brokerage firm. However, this does not mean that you can trade tax-free. You will likely need to pay capital gains tax in your country of origin. https://www.investopedia.com/ask/answers/06/nonusresidenttax.asp