dragon4609

Hi Everyone,

I am just at the AOS stage but I am curious to know when I will have to file my taxes to the IRS. Do I have to wait until I physically get the green card in my hand? (hopefully before the end of 2014)

I also wanted to transfer a small amount from an inheritance as soon as possible. When do I need to declare this amount to the IRS?

Finally, I am interested in doing a bit of share dealing. Do I have to wait until I get my green card ?

Cheers...

Bob

Taxes, if you meet significant presence test, your immigration status is largely irrelevant.

Transferring money is easy, read all the numerous threads on who you use, bank does all the declaring for you.

Plenty of threads on shares that you could search out to get you started.

Pulaski

If you've already inherited the money and aren't yet resident in the US for tax purposes, the fact that it's an inheritance is irrelevant. You do not declare transfers to the IRS. Ever. Like Bob said, if there is any reporting to be done, the bank takes care of it. Also DO NOT try to finagle transfers to avoid IRS reporting, only bad things will happen if you do that.

You don't need a green card to trade shares, but you probably won't persuade a broker to open an account until you have a SSN, so that their records can be organized for IRS reporting.