Trading stocks / TN status

Canadian Expats and travelers in the USA can communicate with each other here!

Moderators: Reba, visaplace.com

a2000b2050Junior Member
Topic author
Posts: 10
Joined: 22 May 2009

Trading stocks / TN status

Post Fri Jun 12, 2009 7:45 pm

I am working in Arizona under TN visa, and interested in risking some dollars in trading stocks :)

Am I allowed to do so while in TN status?
is it considered as another revenu than from my company?

If yes, do you know some brokers cheap?

thanks
:roll:
Top
StevenCanuckAbroad VIP
Posts: 3635
Topics: 2
Joined: 28 Sep 2007
Location: Calgary

Re: Trading stocks / TN status

Post Mon Jun 15, 2009 9:34 am

It's not considered employment income so you're not violating TN-1 status, whether you can do it depends on whether your tax home is in the US, if it's not you need to use a Canadian broker (I think, there may be a way of using a US broker if you're non-resident, a lot of US brokers are registered in Canada).

The usual advice would be to use one of the on-line brokers, but the Patriot Act makes that tricky because financial institutions have to have a customer identification programme. There are a couple of on-line brokers in the US that will accept Canadians who are resident in the US (and by resident, you file taxes as a resident) can't remember them off-hand, there was another thread on here that mentioned them. You have to send them a copy of your passport and other ID.
Steve.
Top

Did you enjoy this post? Share it!

 
  • Related topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: No registered users and 1 guest