USA tax on futures trading for non residents - Aussie Stock Forums

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  1. #1

    Default USA tax on futures trading for non residents

    I am just about to trade futures contacts via a US based broker but I live in NZ (and are tax resident of NZ).

    Is anyone aware of the tax obligations in the USA in such a situation ie do I have to file a US tax return? Are my net profits subject to any Witholding Tax by the IRS? etc.

    I appreciate I will be subject to NZ tax on my net profits, this post is just about the US tax side (if any).

  2. #2

    Default Re: USA tax on futures trading for non residents

    You will not be required to complete a US tax return unless you work there for an extended period.

    Any withholding tax would be deducted by the product provider or institution where necessary, I doubt this would happen in this circumstance, but of course you will have to declare the income/loss on your NZ return.

    You need to consult a NZ tax adviser about this.
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