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G
geertweening
February 2, 2023
Question

Do I have to pay long term capital gains taxes on selling private company shares when living abroad?

  • February 2, 2023
  • 1 reply
  • 0 views

I'm unclear on whether taxes are required when the person is no longer living in the U.S. and is not a citizen, but has an LPR status (Lawful Permanent Resident) e.g. Green Card

1 reply

M
MinhT1
February 2, 2023

As a permanent resident, you are subject to the same tax laws as US citizens. You have to file a US tax return even if you are not in the US and have to report worldwide income.

 

If you sold securities (even private), you have to report the sale and pay capital gain tax if there is a gain. You can claim foreign tax credit for taxes you have paid overseas if your country has a tax treaty with the US.

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