02-19-2004, 02:15 PM
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 Re: Tax withheld - foreigner - stock sale "A.G. Kalman" <glendale202-mtm[at]yahoo.com> wrote in - quote - > rgassaf wrote:
THAT is an excellent article Alan. Truly explains it. Seeing> > Can anyone help: > > > I am a foreigner and recently I have sold IBM stocks (bought > > when I worked in the company) thorugh Equiserve. > > > My broker did not advised to fill in the W8 form and > > consequently 30% of the proceedings are now held as taxation > > (tax withheld) in the US. > > > Does anyone knows how to get this tax refund from IRS?! What > > do I need to do / fill?! > > > Thanksssssss! > > Ps.: The stocks were sold in Dec 2003. > You say you purchased these shares while an employee of IBM. > I will assume that you purchased these shares through the > IBM Employee Stock Purchase Program (ESPP). The first thing > you need to do is to determine whether you had a qualified > disposition or a disqualified disposition (you failed to > hold the shares for the required periods to make them > qualified). Either way, some part of the sale is treated as > ordinary income and the balance is treated as capital > gain/loss. You report all this on Form 1040NR and Schedule > D. The ordinary part of the gain is placed on Line 8 as > compensation. The sale itself and any gain or loss goes on > the Schedule D. If you overpaid tax, the 1040NR acts as your > request for a refund. > To get an understanding of ESPP purchases and sales and > how you compute ordinary gain, see the following link. > http://www.turbotax.com/articles/Emp...hasePlans.html as no one here has jumped all over it, I can assume it's even accurate! :-) << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-13-2004, 04:20 AM
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| Tax withheld - foreigner - stock sale Can anyone help: I am a foreigner and recently I have sold IBM stocks (bought when I worked in the company) thorugh Equiserve. My broker did not advised to fill in the W8 form and consequently 30% of the proceedings are now held as taxation (tax withheld) in the US. Does anyone knows how to get this tax refund from IRS?! What do I need to do / fill?! Thanksssssss! Ps.: The stocks were sold in Dec 2003. -- Posted Via FinancialFora.Com http://www.financialfora.com/ << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| foreigner, sale, stock, tax, withheld |
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