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    aniket25's Avatar
    aniket25 Posts: 1, Reputation: 1
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    #1

    Oct 18, 2014, 01:40 AM
    Hi am working abroad and maintainaing NRE status since last 12 years.
    Hi am working abroad and maintainaing NRE status since last 12 years.I have invested in Mutual funds in India now I want to reddem the same(all invested moneyb is more than a year).could somebody suggest me if I have to pay the tax on it if I have invested from normal saving account ?if yes how many percent?and the tax will be on total redumption or only the appreciated amount?Many Thanks in advance if somebody can help me out
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Oct 18, 2014, 05:05 AM
    Assuming you are a resident alien, ALL world-wide income is subject to U.S. income taxes, so, yes, you must report the sale of the Indian mutual funds to report any gain or loss on those funds.

    You report the sale on Form 8949 and the aggregated results on Schedule D.
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