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by Anonymous on February 25th, 2008

Anonymous

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I am a dual citizen of the US and Switzerland. I permanently reside in Switzerland. I pay taxes to Switzerland per the US/Swiss tax treaty. Switzerland does not tax capital gains on my investments. Does the US require me to pay taxes on my investment gain

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Answers. 3 helpful answers below.

  • by Apollo on April 23rd, 2008

    Apollo

    When you feel in your US Tax form you need to declare your world wide income. That means that you tell them your total income for the year you file including all your investments and salary income worlwide. Uncle Sam does not care if you are taxed or not on your investments in Switzerland or anywhere else(wins or losses for that matter). Uncle Sam cares how much money you made at the end of the year (including all your investments)every year until you depart from this world. According to the US rules you are allowed certain lump sum deduction for living abroad+ deductions for Housing.With the exchange rate changing in favour of the Uncle Sam you might end up paying money to US after taking all your deductions. Your only way to avoid US taxation since you have dual citizenship is to denounce your citizenship. See in the Internet how this is done. However if they realize that you do it for tax reasons they will not grand you your wish. Good luck!!

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  • by I like to argue on February 25th, 2008

    I like to argue

    I honeslty have no idea.

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  • by R U Sirius on February 25th, 2008

    R U Sirius

    My opinion is........if you're required to pay taxes in the US (while residing in SwitzerL) then I can't see how you can't pay the taxes on your capital gains. Still not sure though.

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