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Posted by sumtaxsolutions on January 9, 2008, 3:10 pm
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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
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