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?
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 Responses to “Do I Have To Pay Capital Gains Taxes On International Investments If I Live In The Us?”
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.
Here are your best answer http://www.best-seek.com
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.