Posted by admin on 4 Apr 2008 3:12 pm. Filed under United States.
screwed asked:
I am planning on making some investments outside the country (stock market investments). Can I access the profits while living in the US or will I have to pay capital gains taxes on it? If so, how much will I have to pay say for $10,000 in profits?
3 Comments to “Do I have to pay capital gains taxes on international investments if I live in the US?”
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Spock (rhp) said:
On April 6th, 2008 at 10:16 pm
all Americans are subject to capital gains taxes on all their gains, no matter where the gain occurs.
so, yes — you will have to pay.
15% long term capital gains tax is the current rate.
you may get a credit for taxes paid to the other country; for example, Canada taxes the gains foreigners make in Canada at 15%, the the net effect is that an American pays the higher of the US or Canadian rate.
dizzy d said:
On April 7th, 2008 at 10:07 am
just follow the instructions of your income tax forms. If the stock was sold in the tax year, you will probably report the gain or loss on Schedule D.
On April 6th, 2008 at 10:16 pm
all Americans are subject to capital gains taxes on all their gains, no matter where the gain occurs.
so, yes — you will have to pay.
15% long term capital gains tax is the current rate.
you may get a credit for taxes paid to the other country; for example, Canada taxes the gains foreigners make in Canada at 15%, the the net effect is that an American pays the higher of the US or Canadian rate.
On April 7th, 2008 at 10:07 am
just follow the instructions of your income tax forms. If the stock was sold in the tax year, you will probably report the gain or loss on Schedule D.
On April 10th, 2008 at 5:45 pm
Here are your best answer