Canadian Stock Earnings, How Reported?

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Subject Author Date Canadian Stock Earnings, How Reported? sumtaxsolutions 01-09-2008
Posted by sumtaxsolutions on January 9, 2008, 3:10 pm Please log in for more thread options Client purchased stock in Canada, sold in 2007 on the Canadian market. Question 1 -- has Patriot Act created the requirement for the Candian company to send a 1099 to IRS? There is just 1 transaction and it is for more than $10k Question 2 -- does anyone have experience with whether Canadian tax forms are required? Question 3 -- is this potentially excludable from consideration as gross income on US tax return? thanks in advance for helpfulness -shannon -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted Canadian emigrant to the U.S. January 31, 2007, 4:53 pm Canadian - US tax treaty April 5, 2007, 1:49 am Canadian working in the US - need tax help June 19, 2007, 9:29 pm Do I owe any Canadian income tax? April 28, 2008, 2:37 pm Do I have to pay US taxes or Canadian or both? December 11, 2008, 9:56 pm Working with a Canadian company April 26, 2007, 2:30 am Gift from joint Canadian account December 9, 2007, 2:40 am Is there a similar group for Canadian taxes? August 14, 2008, 12:00 am Canadian Royalty Trust 15% tax credit in an IRA August 25, 2008, 6:36 pm Farm Income Reported Where? March 30, 2007, 3:56 am