Is it viable or even possible?
Ive readabout of the (IRS Section 1446(f)) IRS 10% withholding tax on disposal, would that require a TIN? Is that possible for a non US resident?
Would the amount of CGT reduce accordingly? Or would CGT be owed on the whole amount pre the 10% withholding?
Bonus question out of pure interest, why are they treated differently? This part might get into the weeds so nevermind it if it cant be summarised easily.
Edit: Havent figured out if its possible but it really doesnt seem viable, 10% withholding, is of the total transaction amount, not profit.
e.g with generous 20% increase in value.
buy 200 of X @50 for 10,000,
sell 200 of X @60 for 12,000,
Withholding of 10% = 1,200.
Never mind what CGT is now due, so thats the end of that
Ive read
Would the amount of CGT reduce accordingly? Or would CGT be owed on the whole amount pre the 10% withholding?
Bonus question out of pure interest, why are they treated differently? This part might get into the weeds so nevermind it if it cant be summarised easily.
Edit: Havent figured out if its possible but it really doesnt seem viable, 10% withholding, is of the total transaction amount, not profit.
e.g with generous 20% increase in value.
buy 200 of X @50 for 10,000,
sell 200 of X @60 for 12,000,
Withholding of 10% = 1,200.
Never mind what CGT is now due, so thats the end of that