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Author Topic: Tax rate for non-resident alien in the U.S.  (Read 179 times)
Wavepackets (OP)
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December 25, 2017, 07:39:27 PM
 #1

I'm an international student holding F1 visa in the states. I find information on the IRS page which says non-resident aliens are subject to 30 percent flat rate for capital gains. Does this rate apply to gains from trading in virtual currency on poloniex and bittrex? If so, this rather high rate would make me reconsider whether it's worth trading on poloniex using my spare money. Sad

countryfree
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December 27, 2017, 07:30:13 PM
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Did you open your Poloniex account, and made a deposit before entering the US?
When do you plan to withdraw your cryptocurrencies from Poloniex and exchange them into fiat money? If you make the withdrawal after leaving the US, you won't have to pay any capital gains tax in that country.

I used to be a citizen and a taxpayer. Those days are long gone.
darkangel11
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December 28, 2017, 03:46:22 AM
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Countryfree is right. You are subject to income tax when you exchange to fiat. Poloniex and Bittrex don't offer you such option, so you'd have to register at another exchange to be able to do it. Even if you exchange to USDt you aren't formally turning your money to fiat as these are non-withdrawable tokens.
Wavepackets (OP)
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December 28, 2017, 11:53:00 PM
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Did you open your Poloniex account, and made a deposit before entering the US?
When do you plan to withdraw your cryptocurrencies from Poloniex and exchange them into fiat money? If you make the withdrawal after leaving the US, you won't have to pay any capital gains tax in that country.
That's great. Thanks for your response!
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