Have a Tax Question? Ask a Tax Expert
Hello, as a US Person and CA resident, you are taxed on income worldwide. You will want to ensure you report all foreign brokerage activity on your US and CA taxes and file any applicable Foreign Asset forms (Forms FinCEN 114 and Form 8938). At the federal level, you may get a foreign tax credit for any foreign taxes paid on the same taxable income. I am assuming the 15% is being withheld at the source country level? If so, that tax would count towards the foreign tax credit. Please let me know if it is a US 15%.
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