re: #914 Jimmi the Grey

So, as a citizen and resident of the USA I invest my money in an Indonesian company and any profits from that are not taxed by my government? Huh, I gotta think on that one…I get the ‘double taxed’ thing as it will also be taxed by the foreign government, but not sure if I think it’s fair.

Sorry if I sound ignorant, but I’m a product of rural public schools in the Reagan years and had to self-teach critical thinking as an adult…been a rough ride.

I think it actually is taxed, but under a separate set of rules and using sub-forms different from the standard Schedule C. I have a bit of foreign investment income and calculating that part from my Form 990 data is a pain in the ass since the profit is looked at as well as you getting some credit towards the foreign tax paid on that profit.