IRS Rules for U.S. Citizen Purchasing Canadian Stocks

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Ruth
Posts: 27
Joined: Sat Apr 01, 2006 4:12 pm

IRS Rules for U.S. Citizen Purchasing Canadian Stocks

Post by Ruth »

Perhaps this is a dumb question ...

How does the IRS treat the purchase of Canadian stocks (not a mutual fund) by a U.S. citizen (residing in Canada)? Does this fall under the rules governing foreign trusts, Form 3520, etc.? Or is this merely the purchase of an asset (like any hard asset such as a house, etc.)? Are there any special reporting requirements for the IRS? Or is the reporting requirement similar to that in Canada where you declare interest and dividends in the year distributed, but capital gains only when the stocks are actually traded?
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Exactly the same.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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