For example I am citizen of India and I am working in USA. Consider I earn 100k dollars per year and invested 10k dollars in US stocks which appreciated by 50% that year. Now whom should I report this 5k profit to and pay the capital gains?

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Lerichard52 t1_j28i9qo wrote on December 30, 2022 at 12:17 PM

#1,178,100

Did you sell the stock? You don’t pay taxes on unrealized gains.

sai_gamer OP t1_j28k5i5 wrote on December 30, 2022 at 12:38 PM

#1,178,473

Replying to Lerichard52 (#1,178,100)

Yes consider i sold it, should i pay tax for usa where i earnt the money i used for investing or from india whom i am resident of

[deleted] t1_j28qa7h wrote on December 30, 2022 at 1:37 PM

#1,179,775

Replying to sai_gamer (#1,178,473)

[removed]

AbandonedSamurai t1_j28tnj4 wrote on December 30, 2022 at 2:06 PM

#1,180,552

Your citizenship does not matter. You are an NRI and a resident of the USA. You invested in the USA and made gains in the USA. Thus, you pay tax in the USA.

However, any income generated in India is taxable in India.

ChiSquare1963 t1_j298s4j wrote on December 30, 2022 at 3:55 PM

#1,184,380

Tax rules for nonresident aliens in USA

That page also has links to information for resident aliens.

SkyliteBlueSnake t1_j2a6cxe wrote on December 30, 2022 at 7:30 PM

#1,192,492

Replying to sai_gamer (#1,178,473)

Are you living in India working remotely for a US company? Or are you physically residing in the USA?

sai_gamer OP t1_j2aijvr wrote on December 30, 2022 at 8:49 PM

#1,195,393

Replying to AbandonedSamurai (#1,180,552)

thanks