Robinhood/US Tax

[yippira123]

Hi all,

I was in the US for 3 months last year, and continued using Robinhood for a few months after returning to Singapore. I did try to Google some of these information but I'm hoping to get direct answers here:

1. Do we need file to US for capital gain as a Singaporean? If so, how should we do so?

2. Do we need to pay US/SG capital gain tax as a Singaporean using Robinhood? Or if we are using a broker like TD Ameritrade Singapore?

3. How do we pay for dividend tax to US?

4. Do we need to pay to SG for capital gains if that is our main source of income?

5. Do we need to file capital gain/loss in Singapore to IRAS?

6. Do we need to pay to SG for crypto gains. Does that count under capital gain?


Thanks!

 

[BBCWatcher]

I was in the US for 3 months last year, and continued using Robinhood for a few months after returning to Singapore. I did try to Google some of these information but I'm hoping to get direct answers here:

1. Do we need file to US for capital gain as a Singaporean? If so, how should we do so?

Maybe. What was your status in terms of U.S. personhood? What is it now? Have you sold anything?

2. Do we need to pay US/SG capital gain tax as a Singaporean using Robinhood? Or if we are using a broker like TD Ameritrade Singapore?

Possibly, but probably not. Singapore doesn’t levy capital gains tax on personal investments, so residents of Singapore who are not subject to another tax jurisdiction don’t ordinarily owe any capital gains tax.

3. How do we pay for dividend tax to US?

If you still owe dividend tax (because tax wasn’t sufficiently withheld) then you’ll need to file a U.S. tax return and pay the dividend tax.

4. Do we need to pay to SG for capital gains if that is our main source of income?

See above. If IRAS considers you a professional trader, yes.

5. Do we need to file capital gain/loss in Singapore to IRAS?

See above.

6. Do we need to pay to SG for crypto gains. Does that count under capital gain?

Same answer, see above. Assets are assets, whether “crypto” or “dipto.”