On 2021-03-04 10:49 p.m., Daniele Nicolodi wrote: > On 04/03/2021 22:01, James Cook wrote: >> Hi list, >> >> I file taxes in both the US and Canada, for which I have to calculate >> capital gains differently: > > Wait a minute, do you have to calculate capital gains differently _on > the same accounts_? Doesn't this imply double taxation in the US and in > Canada? I thought that bilateral agreements are in place so that this is > not a thing. But I am European citizen and Canada may be different. > > Cheers, > Dan
Fortunately it doesn't imply double taxation. My understanding is that I first calculate my tax for each country (yes, calculating capital gains differently for each one) and then I can apply a final adjustment to avoid double taxation. The adjustment doesn't depend on the precise details of how my taxes owed to each country were computed. I'm grateful I had professionals figure that out for my 2018 and 2019 taxes so I'll have an example to work with. -- James -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/39317274-169c-f3d4-4d72-79602284e1ce%40falsifian.org.
