Question for retired US taxpayers

[bobonzo]

Regarding retired US citizens/taxpayers:

Are you able to claim foreign residency on the return using a retirement/marriage  visa?

 

Thanks

 

 

[Langsuan Man]

42 minutes ago, bobonzo said:

Are you able to claim foreign residency on the return using a retirement/marriage  visa?

Only if you have been granted permanent residency and then of course you would not be here on a visa

 

Having a non immigrant long stay visa or extension of stay means nothing to the US tax authorities, you are taxed world wide on your US income

[bobonzo]

thanks

 

I understand I'll be taxed regardless. Just wondering how you file. I assume physical presence would work ?

 

Thanks again

[Langsuan Man]

1 minute ago, bobonzo said:

I assume physical presence would work ?

Work for what ?

 

You can use your Thai address when you file but you are not going to gain anything financially by filing from Thailand  

 

Only if you were employed overseas would a certain amount  be exempt from US income taxes, but anything producing income in the US would not be exempt (stocks bonds, etc.) 

[bobonzo]

OK thanks for that.

 

I had not considered the 'employed' part. I was employed overseas for almost 40 years. Filing as a retiree is new to me.

 

 

 

 

[Rhys]

Reaching that point, will file for SSN in  June 2018... Gathering up all the what to do, where to do it and how much...did I receive..

[gk10002000]

All income could be subject to taxation unless as mentioned you were working over seas and could claim and qualify for the foreign income exclusion.  SSA payments are subject to taxation, 401k or Traditional IRA distributions are subject to taxation, as would be conversions.  The feds will always be involved.  A USA state could be involved if you have or maintain a USA state presence. It is not necessary but can be very useful for many things. If you do establish or have a state, I hope it is a tax free state, Fl, Tx, Alaska, Nevada, etc.  How much SSA income is subject to taxation is based on your MAGI, which includes normally tax free income such as Muni bonds.  So depending on what you have for IRAs, you might want to consider converting to a Roth IRA.  ROTH Ira income or withdrawals do not count towards MAGI, and Roth IRA do not have any required minimum distributions at 70 1/2 as Traditional IRAs and 401ks do