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dduffield0212
January 27, 2025
Question

If I bought Mercedes Benz stock through Fidelity & paid taxes to Germany when dividends were paid, is this considered a foreign asset?

  • January 27, 2025
  • 1 reply
  • 0 views
What is considered a foreign asset?

    1 reply

    DaveF1006
    DaveF1006
    January 27, 2025

    A foreign asset generally refers to any asset that is located outside of the country in which you are a tax resident (for example, if you're a U.S. tax resident, foreign assets are those outside the U.S.).

     

    Mercedes Benz is a German company and is considered a foreign asset even though the stock is traded on the US Stock Exchange. If you own shares of stock of a foreign asset, it most be reported as a foreign asset.

     

     

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