as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
is transfer of long term investment proceeds from india considered taxable in the u.s.?
user
if you are a us resident (not necessarily citizen) then yes, you do have to pay capital gains taxes on any capital gains, including interest from assets oversees (like interest from a savings account). additionally you have to report all your foreign bank accounts according to fatca (https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance-act-fatca).
assistant