day trading wiki
day trading wiki
If you trade stocks in the U.S. stock market do you have to pay taxes if you live overseas the entire year?
If I trade stocks do I have to pay taxes on the earnings of my stocks if I live outside of the U.S. for the entire year? The way I interpret the foreign tax credit is that as long as I am outside the USA I don’t have to pay taxes on my earnings so long as I am outside the USA for 330 days out of the year.
http://www.irs.gov/businesses/article/0,,id=183263,00.html
http://en.wikipedia.org/wiki/Foreign_tax_credit
foreign tax rules apply to earned income. stock trading gains/losses, diviidends, etc are not earned income.
