Once an individual meets the substantial presence test, they become a U.S. tax resident and should file a Form 1040. There are exceptions for individuals that meet the Closer Connection Exception which overrides the substantial presence test. Please view my video on the IRS Form 8840 here: th-cam.com/video/wNv13HULHGQ/w-d-xo.html
Generally yes. The FIRPTA withholding applies to the disposition of U.S. real property when the owner is a foreign person. If the owner is a U.S. tax resident and can provide a valid Form W-9 with an ITIN/SSN, then the broker can treat the recipient of the funds as a U.S. person and is not subject to FIRPTA withholding
Thanks for the vídeo. I am filing taxes for 2021. To do the test, I need to count the days that I have been in the USA from 2022? Or the current year means the tax year, in this case 2021? Thanks man!
You need to count the days in 2021, as well as the days in 2020 and 2019. You need to track the days from all three years to accurately calculate whether you meet the substantial presence test for 2021.
@@JasonDKnott Great. Also, I qualify for this test after 5 years being a F1 visa holder correct? In my case, I came to the USA in 2016 with F1 visa from Jan to May. Then I returned to my home country for 1 year. In 2017 I renewed my F1 visa and came to the USA until Sep 2020 since I graduated and the pandemic started. With the same F1 Visa transferred right after my graduation to my grand School. I was out of the USA from Sep 2020 to August 2021 due to online classes, but in August 2021 I came to the USA am until the present. I am currently in the USA. With that background, can it be said that I have been 5 years under F1 visa? Thanks!
Hello, thank you so much for you video! Very very helpful.I have a question about federal tax refund. If I met the Substantial Presence Test, I now know I need to fill out a 1040 income tax for my city and state right? But, how about federal tax refund? In the past years, I used Glacier to fill out federal tax refund as I was an F-1 student. This year is first year being employed outside of school. If I am considered a resident for text purposes, what do people use to fill out a federal tax return? And what form do I need to fill out too? Thanks so much in advance for your advice!🙏
If an individual passes SPT in one year & immediately after that year he does not meet the test. Does he need to file form 1040 next year? (Year in which he does not meet the test)
I have been 4 days in 2021, 276 days in 2022, and only 19 days thus far in the US on an H4 visa. Do I meet the substantial presence test? My broker wants me to send a W-9 form, but I believe I should submit a W-8 instead. It's not clear to me. Please advise
Hi jason, Thanks for the information in my case my day one started july 10th 2022 and i never been to usa prior years, so for 2022 presence test is negative as i am there 173 days in 2022. What options i have now i need to file 1040 NR or i am eligible resident aline in any case to file 1040? Thanks
Hello thank you the info.
If they met the Substantial Presence Test, can they file resident 1040? Or Do they still have to file 1040 NR?
Once an individual meets the substantial presence test, they become a U.S. tax resident and should file a Form 1040.
There are exceptions for individuals that meet the Closer Connection Exception which overrides the substantial presence test.
Please view my video on the IRS Form 8840 here: th-cam.com/video/wNv13HULHGQ/w-d-xo.html
Jason the man!
Great Info ! Best Regards
Thanks for watching!
If a person has substantial presence and files taxes every year and uses property as primary residence are they subject to FIRPTA if property sells?
Generally yes. The FIRPTA withholding applies to the disposition of U.S. real property when the owner is a foreign person. If the owner is a U.S. tax resident and can provide a valid Form W-9 with an ITIN/SSN, then the broker can treat the recipient of the funds as a U.S. person and is not subject to FIRPTA withholding
What if I have 183 days in the current year
Thanks for the vídeo.
I am filing taxes for 2021. To do the test, I need to count the days that I have been in the USA from 2022? Or the current year means the tax year, in this case 2021?
Thanks man!
You need to count the days in 2021, as well as the days in 2020 and 2019. You need to track the days from all three years to accurately calculate whether you meet the substantial presence test for 2021.
@@JasonDKnott Great. Also, I qualify for this test after 5 years being a F1 visa holder correct?
In my case, I came to the USA in 2016 with F1 visa from Jan to May. Then I returned to my home country for 1 year. In 2017 I renewed my F1 visa and came to the USA until Sep 2020 since I graduated and the pandemic started. With the same F1 Visa transferred right after my graduation to my grand School. I was out of the USA from Sep 2020 to August 2021 due to online classes, but in August 2021 I came to the USA am until the present. I am currently in the USA.
With that background, can it be said that I have been 5 years under F1 visa? Thanks!
Hello, thank you so much for you video! Very very helpful.I have a question about federal tax refund.
If I met the Substantial Presence Test, I now know I need to fill out a 1040 income tax for my city and state right?
But, how about federal tax refund? In the past years, I used Glacier to fill out federal tax refund as I was an F-1 student. This year is first year being employed outside of school. If I am considered a resident for text purposes, what do people use to fill out a federal tax return? And what form do I need to fill out too?
Thanks so much in advance for your advice!🙏
How do you pay taxes if your immigration status is terminated but you still a us tax residedent under a substancial presente test ?
If an individual passes SPT in one year & immediately after that year he does not meet the test. Does he need to file form 1040 next year? (Year in which he does not meet the test)
I have been 4 days in 2021, 276 days in 2022, and only 19 days thus far in the US on an H4 visa. Do I meet the substantial presence test? My broker wants me to send a W-9 form, but I believe I should submit a W-8 instead. It's not clear to me. Please advise
Hi jason, Thanks for the information in my case my day one started july 10th 2022 and i never been to usa prior years, so for 2022 presence test is negative as i am there 173 days in 2022. What options i have now i need to file 1040 NR or i am eligible resident aline in any case to file 1040?
Thanks