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Capital Gains On Stock Sale?

Toronto Stock Exchange - The Canadian Stock Market

Capital Gains On Stock Sale?

Postby richmond » Sat Dec 08, 2012 11:50 pm

My Friend owns a stock listed on the Toronto stock exchange.(The stock is PBG.TO)When he sells it,will he owe Capital Gains Tax to Canada,the US,or both?
richmond
 
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Capital Gains On Stock Sale?

Postby troy » Sat Dec 08, 2012 11:57 pm

If your friend lives in the USA, it will be capital gains tax for the US. He purchased the stock using US Dollars in the USA and sold it to receive USD in the US.

Any taxable income you receive depends on A) your citizenship and B) where you are living when you receive it.
troy
 
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Capital Gains On Stock Sale?

Postby bradaigh » Sun Dec 09, 2012 12:06 am

Just the country he lives in
bradaigh
 
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