Please advice.. Thanks !
2007-05-15 09:41:48 · 3 answers · asked by Marino 3 in Business & Finance ➔ Taxes ➔ United States
It doesn't matter if your bring the money here or not. If you are a US citizen or legal resident, ALL your income worldwide is subject to US tax law. Moving money into the country is a nonevent for tax purposes.
2007-05-15 13:14:54 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
If you are residing in the US, or are a US citizen, you MUST include the gain on your income tax return. The good news is that you may be able to get a credit for any taxes paid to India.
2007-05-15 17:00:24 · answer #2 · answered by garyg7 7 · 3⤊ 0⤋
Depends if you want to risk future queries by - Revenue Agencies - for example ?
Their are ways to - evade or hide - investments overseas etc.
Also may depend if it is your - principal home - etc.
2007-05-15 16:54:27 · answer #3 · answered by Anonymous · 0⤊ 2⤋