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Hi,
I would really appreciate it if someone can help me with this question I have.
What tax rate a U.S. minor have to pay if he earns over $10,000 US on interest and dividends from Investment accounts he has in the U.S., however his parents does not file tax returns because they are non U.S. persons. I do know that the U.S. minor will have to file a form 1040 and 8615 (not too sure about this form) but what rate will IRS use to tax his income?
Thank you.
I would really appreciate it if someone can help me with this question I have.
What tax rate a U.S. minor have to pay if he earns over $10,000 US on interest and dividends from Investment accounts he has in the U.S., however his parents does not file tax returns because they are non U.S. persons. I do know that the U.S. minor will have to file a form 1040 and 8615 (not too sure about this form) but what rate will IRS use to tax his income?
Thank you.