Day trading while on H1B visa in US ?

[prakash780 0]

Hello Friends,

I got this question in my mind if we can do day trade while on H1B visa in USA ?

Also if we do day trade, end of the year, total transaction amount goes in 10s of Millions or even more. Would that be any concern to IRS or USCIS or any government agency if total $ amount is such a huge while day trading on H1b visa status ?

Also I found that Turbotax does not allow or does not support to input tax information for such a big figures.

Anyone having any knowledge, can you please help.

Thanks,

Prakash.

[Justin 262]

A quick Google search seems to point to many articles saying you can. Here is one for example:

https://redbus2us.com/can-h1b-visa-holder-do-stock-trading-in-us-tax-day-time-trading/

If you're making that much day trading, you'll be paying someone else to do your taxes I wouldn't worry about Turbotax.

[prakash780 0]

LOL.  Thanks Justin for the answer. I wish i was making that many $ in profit.  

That millions  is  for transaction meant. As a day trader each trade = 20k-50k which totals Millions at the end of the year.

[Justin Henning 0]

Hey Prakash, 

 

I have had a similar question recently because my wife is on a K1 fiance visa and waiting for her green card. I believe that the US is quite investment friendly and they see day trading as investing. I asked my immigration lawyer and she said that even with a K1 visa and no work permit it would still be permitted to day trade as long as the income isn't over millions of dollars. 

 

Regardless, I would advise consulting with an immigration lawyer before doing anything. Once you cross USCIS and make a mistake it can be up to their discretion to revoke your visa and essentially bar you from applying again. Because of this my wife and I have decided that shell just trade in sim until she gets her work permit...always better to be safe than sorry.