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Old 03-23-2015, 12:36 PM
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Tax on royalty obtained from foreign source

"I am a resident alien in USA and I received a royalty payment of 410,00.00 Canadian dollar as royalty payment (an unpaid royalty payment with interest from 2007-2012 for a patent sourced in Canada) this year. what tax do I have to pay?"



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Old 03-23-2015, 11:25 PM
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Originally Posted by District177 View Post
"I am a resident alien in USA and I received a royalty payment of 410,00.00 Canadian dollar as royalty payment (an unpaid royalty payment with interest from 2007-2012 for a patent sourced in Canada) this year. what tax do I have to pay?"
you need to pay taxes on your royalty income on your fed/state returns; as a US resident alien, I mean a green card holder, you need topay taxes on both US source and world wide income; so you need to report the income on 1040 and Sch C. aslongas you pay taxes on your royalty income to Canadian taxing authority then you can claim the taxes paid in Canada on your US return on sch a line 8 or as deduction ion line 47 of 1040.



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