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    bizio1973's Avatar
    bizio1973 Posts: 1, Reputation: 1
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    #1

    Oct 17, 2010, 03:04 PM
    Does a resident in CA need to pay taxes on capital gains in foreign coutry?
    I'm a permanent resident in CA holding a green card but not US citizen. Do I need to pay taxes on interests earned (capital gains on stocks/CDs) in a foreign country (Italy in the specific)? Also, how becoming a US citizen would change things in these regards?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Oct 18, 2010, 07:59 AM
    Yes, as a California resident. You must claim ALL world-wide income on your California return, just like you claim such world-wide income on your U.S. tax return.

    No, becoming a U.S. citizen will NOT change this requirement.
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