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Non-resident Alien with U.S online brokerage account trading in an ETF that is a Publicly Traded Partnership?

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I have filed a W8BEN file to state that I’m a non-resident alien.
Normally all taxes are withheld by my broker and I get a -S every year. Normally I don’t have to file in the US, as I do not have any other business in the U.S.

This year I traded Proshares and that are treated as Publicly Traded and generate a (schedule K-1 ).

(1) For my situation as a non-resident alien, should I receive a K-1?????
(2) If I receive a K-1 does that change my situation and make me obligated to file or in my case this K-1 would just be for my records???

Reaaaalllllllllllyy appreciate your help on this matter.
But in my nothing was withheld as there were no ? so should I still file 1040-?

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  1. Ted on Jul 20, 2011

    You should receive the K-1 no matter what your status. You are not obligated to file a tax form unless you owe more than the amount withheld.

    Your broker does not withhold your taxes. He withholds an ESTIMATE of your taxes, which is probably higher than the amount you actually owe. If you filed, you would calculate the actual amount owed and get a refund of the rest. The government does not require you to file because they are perfectly happy to keep the whole amount withheld, whether you owe it or not.


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