Tax Return during greencard and after U.S. Citizenship

H

HKrishna

New Member
Hello, I have a question regarding bank interest, property, rental income in India.

Now, after citizenship, do parents have to declare the above in their US Tax returns?

Also, will this prevent them from getting medicare and medicaid?

Please advise.

Thanks.
 
Permanent residents are resident aliens for tax purposes and have the same tax reporting requirements as US citizens. In particular, resident aliens are subject to US taxes for worldwide income, and need to report foreign bank accounts over $10000, just like US citizens.
 
So, if they have a balance over 10,000$ in a foreign account, they won't be eligible for medicaid or medicare etc - correct
 
Not necessarily. They have to report yes, eligibility is not based on bank accounts as far as I know.
 
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