US Savings Bonds

Question: Are interest earned taxable?

I am Singapore citizen. Was wondering if I open an on-line savings banks account with bank in the US and deposit an amount of money, will its interest earned be liable for tax in US?

How about US Government bond? Is the interested earned taxable in the US too?

cathylmg

Answer: Do you live and work in the US? If not, then you will file your taxes according to Singapore laws, and you are not responsible for income from US sources.

If you do live and work in the US, you will have to file form 1040 if you’re a resident alien, and form 1040-NR if you’re a non-resident. In this case, both of them are taxable.