is it illegal? #investments #h1b #stock #visa
Not until you start making some serious money. Do you really think you can be profitable day trading with a full time job? I have tried it and it doesn’t work
Are you on h1 and doing day trading
No .any trading you’re on , end of the year you will get 1040 on any gains . Doesn’t tell if you did day trading or not . But if you get a w2 tax form other than your H1B employer , you’re in big trouble
Profit on air bnb you will get 1040, real estate , gambling all 1040. Spend time to read about tax forms and immigration .
Are you on h1b while doing day trading?
I’m trying and need to spend lot of time so unable to do much. Have u been profitable? What types of trade do you do?
5-7% return on a weekly basis
That’s great. Chat room type of trading or options or swing trading?
No
It's illegal if you want to file day trading status (TTS) to IRS during tax return. If you want to file your trading activity as passive investor then it's fine.
Refrain from incorrect news . At the end of the year he will receive 1040 form to file along with tax returns. Only a new w2 form other than his h1 employer will harm his visa .
Afaik TTS is when you’re a s Corp and need some expense written off etc
Not unless you get flagged as a day trader. Make less than 4 day trades a week. Swing trading might be a good option though
What if get flagged as day trading pattern, is is illegal?
Yes, technically day trading is illegal on h1b as this should never become an active source of income. It is similar to selling a house. If you sell a couple of them and make passive money out of it,it's okay. However, if you start making this an active source of income by flipping houses frequently, it starts moving into the illegal category. You might still get away with it though since it's in the gray category and is not enforced frequently. But, not advisable to get flagged multiple times.
No, you easily can. Don’t forget to pay taxes!
Only if you are smart
Is day trading illegal on h1b visa?
You passed the test, r/wallstreetbets