When it comes to real estate, both American citizens and foreigners are allowed to purchase and own real estate properties. However, there are different tax implications. Here, we are going to explore what makes you a residence aliens or non-residence aliens if you aren't naturalized yet.
1. Residence Aliens includes Green card holders.
2. If you have stayed 183 days in America, that makes you residence aliens. The way it works is that, if you spend 183 days a year continuously in America, that makes you residence aliens in terms of tax (doesn't mean anything about your VISA situations).
Or
If for the first year you have spent 31 + days in America and you have lived in America in the past 3 years, then take 1/3 of last years time in America and then take 1/6 of the time you lived in America the year before, add them to the days you have spent in America so far this year, if the sum is 183 or greater, that makes you a residence alien.
Here are some exceptions that won't count towards your time in America. If you are a foreign exchange student in America on student VISA, the first 5 years you spent in America studying won't count towards your residence alien.
If you are from neighboring country going through America, for health reason you have to stay in America to get treatment, these time won't count.
Next time we will talk about the difference between residence alien and non-residence aliens when it comes to taxes.
1. Residence Aliens includes Green card holders.
2. If you have stayed 183 days in America, that makes you residence aliens. The way it works is that, if you spend 183 days a year continuously in America, that makes you residence aliens in terms of tax (doesn't mean anything about your VISA situations).
Or
If for the first year you have spent 31 + days in America and you have lived in America in the past 3 years, then take 1/3 of last years time in America and then take 1/6 of the time you lived in America the year before, add them to the days you have spent in America so far this year, if the sum is 183 or greater, that makes you a residence alien.
Here are some exceptions that won't count towards your time in America. If you are a foreign exchange student in America on student VISA, the first 5 years you spent in America studying won't count towards your residence alien.
If you are from neighboring country going through America, for health reason you have to stay in America to get treatment, these time won't count.
Next time we will talk about the difference between residence alien and non-residence aliens when it comes to taxes.
