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    sacv's Avatar
    sacv Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 25, 2006, 12:11 PM
    Employee stock purchase
    Hello,
    I bought some stocks of my company using the Employee stock purchase plan while I was in India. I have moved to the US to the same company on L1 visa and the stocks are still in my account. I wish to sell them now. Where do I need to show this income and pay tax on it? India or US?
    Thanks,
    -Sac
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Dec 25, 2006, 02:10 PM
    Sac:

    If you pay taxes on the stock sale in India, you will get a credit for that tax on your U.S. tax return. If not, you will probably pay taxes on a long-term capital gains tax basis.

    Regardless of whether you report it on your Indian tax return, you MUST report the sale using Schedule D on your U.S. tax return.
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