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I will be moving to US by end of 2022 in L1B Visa. I have invested in FD, stocks and mutual funds in India which exceeds 20k USD. I will be paying STCG and LTCG tax for my sale proceedings in India for these investments when i close the positions. Will there be any problem in taxation in US. Should i declare this in US while filing tax as world wide income. Will I be taxed for this income in US along with regular tax in India. Please advise.
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Once you are in USA, you need to file your taxes in USA only. For any income outside USA, you need to report that to IRS & pay taxes for that in USA only.- I am not an Attorney, hence not giving any legal advice. Just sharing MY opinion with an intent to help others.
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