Hi, I'm in a situation where:
- I'm a US citizen but live in HK, for many years now, haven't gone back in a few years.
- Earned some gains from selling shares in a private company (held for more than a year)
- Married in 2018 soon after to a local HK wife
- My annual income is well below the foreign tax exclusion threshold, about US$28K. So thus far, I haven't been taxed on that level of income in previous years.
- Last year's filing status was Single
For my 2018 taxes, my questions:
- Filing Married but Separately, do I have to disclose my foreign wife's income? I believe not, but unsure.
- If not, then my total income stays at the US$28K level correct?
- In the case, does that mean I won't need to pay Long Term Capital Gains? Since my income still falls within $9,526 to $38,600 range and the rate should be 0%. According to this: https://www.nerdwallet.com/blog/taxe...ins-tax-rates/
Thanks so much in advance!