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Income tax query
Hi,
I am currently a resident of Singapore and am planning to work in USA from March 2014. I understand there is no double taxation treaty for salary /personal income between Singapore and US.I will be entering US on L1 visa which is valid for 3 years and expect to continue working in US for the 3 year period. Can you advise when my US tax residency status changes to resident alien? - Will that be in March/April when I start working or 183 days after my first work day. I also need a clarification regarding sale of property in Singapore. I use this property as my primary residence i.e. I am living in since last 4 years. Do I need to pay any capital gains tax on it if I sell it in profit ? Is this capital gain dependent on achieving US tax resident alien status?
I am currently a resident of Singapore and am planning to work in USA from March 2014. I understand there is no double taxation treaty for salary /personal income between Singapore and US.I will be entering US on L1 visa which is valid for 3 years and expect to continue working in US for the 3 year period. Can you advise when my US tax residency status changes to resident alien? - Will that be in March/April when I start working or 183 days after my first work day. I also need a clarification regarding sale of property in Singapore. I use this property as my primary residence i.e. I am living in since last 4 years. Do I need to pay any capital gains tax on it if I sell it in profit ? Is this capital gain dependent on achieving US tax resident alien status?
