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Do I need to pay my federal capital gains tax on stocks even if I do not live in US or file a federal tax?

 
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3 Replies

Do I need to pay my federal capital gains tax on stocks even if I do not live in US or file a federal tax?

Are you a US citizen ?

Do I need to pay my federal capital gains tax on stocks even if I do not live in US or file a federal tax?

Yes, I'm a citizen. I heard that if I live outside of the US, I do not need to file tax.

Do I need to pay my federal capital gains tax on stocks even if I do not live in US or file a federal tax?

That's not so.

All citizens must file an income tax return, if they meet the income threshold for filing.

See IRS Pub 501 for who must file based on income and circumstances.

If you pay income tax to another country you can get credit for that.

It's recommended that you don't hold foreign based funds or stocks since this causes serious tax complications

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