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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13152
Experience:  15years with H & R Block. Divisional leader, Instructor
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How does a Canadian capital gain that is taxable at 50% get

Customer Question

How does a Canadian capital gain that is taxable at 50% get taxed in the United States. I know it is taxable, but does it get the long-term capital gain treatment. The Canadian tax form does not seem to indicate if it is long-term or short-term.
Submitted: 7 months ago.
Category: Tax
Expert:  Robin D. replied 7 months ago.


The sale of an asset by a US person (even if the asset is outside the US) is taxed in the same way as usual.

It is long term if held for more than 1 year and short term if held for less than 1 year and 1 day.

The owner must know how long they held.

The reporting is the same (form 8949 and Schedule D).

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Expert:  Robin D. replied 7 months ago.

Checking to see if you responded

Expert:  Robin D. replied 6 months ago.

Ho Tom, were you able to complete your return?

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