Hello,

Years ago I used to live in Singapore where I had invested in some mutual funds.. Since then I moved to the USA and living here for the last 10 years and reporting my taxes in the USA.

I never sold my Singapore mutual funds. If I sell them now, how I am going to report the gains to IRS in the US? Please help.

Thanks,
Anurav

Anurav,

Yes, any capital gains from the sale of the Singapore mutual funds needs to be reported on your U.S. tax return on Schedule D.

Further, the Singapore mutual funds are considered to be a PFIC (Passive Foreign Investment Company), and their marked-to-market value must be reported each year on Form 8621.

Contact me at [email protected] if you want my help with this.

Atlanta Tax Expert