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Invensting money in my home country

By psavestr in Tax & Finances During US Immigration

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psavestr Newbie

psavestr   0

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Country: Sweden
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Hi!

I just sold my condo in Sweden before moving to the US (my husband is a citizen). Since the dollar is so strong right now we would like to invest the money in Sweden in stocks or bonds.

1. Does anyone know if this is a problem when filing the US taxes?

2. Does anyone know if money is taxable (since we would also have to tax the profit in Sweden) in the US? If so how does that work?

Grateful for responses. Thank you!

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psavestr Newbie

psavestr   0

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Country: Sweden
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Hi!

I just sold my condo in Sweden before moving to the US (my husband is a citizen). Since the dollar is so strong right now we would like to invest the money in Sweden in stocks or bonds.

1. Does anyone know if this is a problem when filing the US taxes?

2. Does anyone know if money is taxable (since we would also have to tax the profit in Sweden) in the US? If so how does that work?

Grateful for responses. Thank you!

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Chardon Ne' Collaborator

Chardon Ne'   71

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Filed: AOS (pnd) Country: Jamaica
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Its not a problem , but it is a complicated tax issue for which you will need expert tax advice. Whether or not you will have to pay taxes will depend on whether or not you elect to be treated as a US resident for tax purposes, and will have to claim your foreign income as well. Then it depends on the type and amount. All of which you would want to ask someone with the experience to help you with. 

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journadian Contributor

journadian   13

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Filed: Country: Canada
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In the maintenance side of things, I think there can be a lot of forms to file for owning foreign investments (real headache).  You should try to find out which forms you need to fill for those investments (call the investment broker/bank).  

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psavestr Newbie

psavestr   0

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Country: Sweden
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Thabk you guys so much for your input? Anyone has an idea of how much it would be to hire a tax layer to help file foreign bonds? Also, do you have to report it even if you don't take any money out (long term investments) since the value will change over time.

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JessieABC Community Regular

JessieABC   159

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Filed: Lift. Cond. (pnd) Country: United Kingdom
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On 4/2/2017 at 9:58 PM, psavestr said:

Thabk you guys so much for your input? Anyone has an idea of how much it would be to hire a tax layer to help file foreign bonds? Also, do you have to report it even if you don't take any money out (long term investments) since the value will change over time.

Tax Lawyer and financial advisory fees vary greatly so it depends on who and where.

 

Yes, all your international holdings must be reported annually though you may not have to pay taxes on them (and even if you do, foreign tax treaty may provide some relief in the form of exemptions).

 

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

 

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