Should I file 1040 when capital gains cross US tax exemption limit?
I have a query regarding taxation of my US assets. I moved back to India from US in 2018 and have been maintaining certain US stocks since then. Fast forward to 2024, a bunch of my assets (stocks) got liquidated coz of an acquisition. And the capital gains resulted in me crossing the US tax exemption limit. Now a month ago I received an IRS notice CP59 asking me to file 1040 or if I'm not required to file then submit Form 15103. My query is do I need to still file US taxes even if I've been maintaining a non-resident status but still end up having some income (crossing exemption limits) through capital gains? Or submitting Form 15103 would be enough as the capitals gains are already been taxed here in India?
Would really appreciate some advice. Thanks!
EDIT: I’m not a US Citizen or GC holder.