stock trading overseas & tax implications

Discussion in 'Trading' started by keyser1, Jan 25, 2006.

  1. keyser1


    If you have a brokerage account in a foreign country, and are trading stocks on that foreign exchange, how are your profits/losses taxed in the US?
    (assume one is a US Citizen living in the US)

    Any links to the tax implications would be helpful

    To be more specific, I'm thinking of opening a brokerage account to buy stocks in the indian stock market.
  2. alanm


    In general, US citizens owe US tax on all (worldwide) income.