Am I liable to pay taxes as a minor ?

-I am about to invest about 500 $ into a dividend stock with a DRIP. I dont live in the US and im am a minor. Will i be required to pay taxes if so what is the legal process to do so ?Yes.



More precisely, being a minor does not keep you from being liable. It is possible that you are not liable for other reasons. If there is no other reason for you not to be liable, then you are liable. In some cases, even if there are reasons why you would not be liable if you were an adult, your are liable because you are a child.



The legal process is the same as for an adult or for a person who lives in the U.S. You fill out a tax return. You can use a form that is printed on paper and a pen, and send the form to the government by mail when you are done, or you can use a computer and send everything electronically when you are done. Either way, you use the same process as an adult would use. The only possible difference is in the answer to the question about whether you can be claimed as a dependent by someone else.