US Capital Gains Clarification

Hello Everyone,

I’ve got some stock in the US I’m looking to sell and would like to check and see if my understanding.

Context: US Citizen (California specifically) living in Japan for last 8 years. The stocks I am looking to sell have been owned since 2018, purchased while in the United States; the account was a joint investment account that has been transferred in full to me.

If I sell these stocks I would have to pay the Japanese Capital Gain Tax. The capital gains would also have to be calculated in Yen as well I believe. I can avoid paying any US Taxes on these by filing for foreign tax inclusion.

I would like to use some of this money for a house purchase in Japan at a later time; when I transfer the money over is there any additional taxes that need to be paid? I’ve found some mentions of a Remittance Tax but am unclear on the details.

by I_Ruv_Kpop

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