Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

exboyfil

(18,352 posts)

4. This is capital gains money

Reply to BlueToTheBone (Reply #2)

Sun May 13, 2012, 07:17 AM

May 2012

As he gets paid for his shares on the IPO. I guess it drops into limbo as he no longer becomes a U.S. citizen? Normally the tax bill would come due when he liquidates his portfolio. He becomes like a foreign national who invests in the U.S. going forward. I guess most normal people who might try this have their money in a IRA/401(k) (like me). That I know gets immediately treated as a withdrawal for tax purposes, and is taxed as ordinary income.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

8 replies

= new reply since forum marked as read

Highlight:

Saverin gives up US citizenship to save on taxes [View all] BlueToTheBone May 2012 OP

This does highlight why trying to capture taxes on the rich exboyfil May 2012 #1

That if the IRS follows those rules BlueToTheBone May 2012 #2

This is capital gains money exboyfil May 2012 #4

From what I understand, the US is like a psycho ex. It's not over even if you say it is. Edweird May 2012 #3

Good, one less Rethug vote in November CanonRay May 2012 #5

He is moving to Singapore...interesting. dkf May 2012 #6

I think he renounced in September, Lucky Luciano May 2012 #7

Good riddance. But I hope the IRS sticks it to him. nt Ilsa May 2012 #8