I have investments in the USA, what should I file with the tax office because of this?

Investment profit (or loss) is declared in the annual tax declaration on property and income, which is submitted by April 30 of the year following the reporting year.

Tax residents of Ukraine who received income, i.e. sold an investment asset, are required to declare investment income received abroad. Transfer of funds from operations to an account in Ukraine or in another country or purchase of an investment asset does not constitute income from investments.

Calculations of income received from operations with investment assets are shown in a separate appendix to the tax declaration - Appendix F1. If an investment loss is received, it is possible to transfer it to the next period, that is, to take it into account in the tax return for the next calendar year.

The Tax Code of Ukraine does not directly provide for the provision of documents to confirm income and expenses from transactions with investment assets, in practice tax officials recommend submitting them together with the declaration of property status and income. In addition, for the purpose of verification of the return, tax authorities usually send letters to taxpayers requesting documents.

Such documents can be, but not exclusively:

1. statements from an individual investment account

2. reports of brokerage companies

3. other documents confirming the receipt of income (sale)

4. other documents confirming the fact of incurring expenses (sales contracts, settlement documents, etc.).

The specified documents must necessarily contain the dates of operations, which are required for the purposes of calculating the hryvnia equivalent of income and expenses in the currency.

In the case of receiving investment income, taxes must be paid by August 1 of the year following the reporting year.