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Michael_G

Dividend income (Form 1099) while on H1B?

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Dear All,

I am on my H1b status and have received dividends from my investments. My stock broker provided a consolidated form 1099 (1099-DIV section). I did report this income when I filed my taxes as form 1099-DIV and stated it as "passive income", but I wanted to check if we are allowed to have a dividend income? I do not trade, I just prefer to have my cash invested instead of just sitting in the bank.

Is this legally allowed? I am now worried that since this is in income from investments, it is still income outside of my employer. I have read several posts on other sites mentioning investing (and not trading) is allowed from an Immigration Attorney (it is from a different law firm, so I don't know if I can post the link here). BUT they do not mention anything about receiving dividends. I mean, you are bound to get dividends if you invest.

I am a little scared right now and want to seek advice from an Immigration Attorney from this group.

Thank you.

-Michael

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That's fine. The only problem would be a 1099-MISC, because that generally indicates active income.

Edited by JoeF

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Thanks JoeF! I am also getting dividends 1099. My question is, if I decide to return to India, can I keep my investments in USA and continue to receive dividends? or should I liquidate all my stocks?

 

 

 

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3 hours ago, Raman1234 said:

Thanks JoeF! I am also getting dividends 1099. My question is, if I decide to return to India, can I keep my investments in USA and continue to receive dividends? or should I liquidate all my stocks?

 

 

 

You can keep your investments. There is a flat tax, though, if you are not in the US.

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