I'm a U.S. citizen working and living abroad. I use form 2555ez to file US taxes. I want to use some of my foreign earned income to invest in the US. Is the income earned from investments taxable? If so, how do I report it?
2007-09-16 15:56:36 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It's fully taxable. How you report it depends upon the type of income. Dividends and interest are reported on Schedule B. Capital gains are reported on Schedule D.
2007-09-16 16:10:13 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It depends on the country. The US has totalization agreements with many countries. If there is one, you pay the SE tax to the other country. Yes, the state you were domiciled in when you left is still your home state and you must file a tax return unless they allow you not to. Not even going to think about your idea of using a corporation--the corporation pays taxes on the retained earnings and then you pay tax on the dividends, so you don't save anything. Plus TWO countries will be trying to tax it.
2016-05-21 06:26:07 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Yes , it is called passive income , Schedule D .
http://www.irs.gov/
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2007-09-16 16:02:53 · answer #3 · answered by kate 7 · 0⤊ 0⤋