Tax Issues for U.S. Residents and Foreign Nationals

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Subject:		Re: TAX ON CAPITAL GAINS FROM LAND SOLD AND RE-INVESTED IN INDIA WHILE BEING A US RESIDENT
Name:		Gary W. Carter
Date Posted:		May 15, 08 - 5:45 PM
Email:		gwc@thetaxguy.com
Message:		Hi Venky - Generally, foreign income that is not taxed under the laws of the foreign state is not taxed in the US. Report only the includable income on your US tax return as capital gain.

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