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Tax Implications for US Citizens

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Old 26-04-2007, 02:26 PM
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Default Tax Implications for US Citizens

If US Citizens profit from property transactions outside of US then what is their tax liability?
For example if they buy in Canada and sell it at profit, do they pay taxes in Canada under Canada's tax law or do they pay in US under US tax law?
Same question arises when Canada is repalced by any other real estate investment destination.
Perhaps a new forum regarding the tax implications for various destinations should be started to gain insights from investors who have experienced this unavoidabkle problem.
Old 09-07-2009, 03:35 AM
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yeah do they really pay taxes in Canada under Canada's tax law or do they pay in US under US tax law..??

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