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My auntie (a permanent resident in Hong Kong and foreigner to US) has a brokerage account here at Datek. To give me the power to manage her account, we opened up a joint with her as the primary holder and me the
secondary. To her knowledge, since she is not even a resident of the US, she is only responsible for taxes in Hong Kong and to the HK govt. The question comes in where would this scenario made inconvenience for me
because I would be responsible for her taxes? (meaning the capital gains/losses for this particular joint account) while I am being the "manager" and not the real monetary "owner" of such assets?
I'm a US Citizen myself, and normally only the primary holder of such acct will be taxed, but in this particular case, would I be burdened by her gain?
Also, would I be called for audits coz of this? Anyone here experienced that?
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