Tax

[Mr and Mrs Bird 0]

Hi all.

When I was working in my homecountry I had a little saveup for retirement.

This agreement stopped for a little while ago and they will pay me my money now.

Before I will recieve the money, they will let me pay tax. So a very little amount is left.

My question is?

Do I need to pay tax of those money in USA also?

Anette

[Nich-Nick 3,354]

No, you only pay taxes to one country. You might have to ask a tax person when you file income tax next year if you need to report the whole sum then take a foreign tax exclusion on it. Keep good paper records of the amount and something showing taxes were held out and paid already.

[Mr and Mrs Bird 0]

No, you only pay taxes to one country. You might have to ask a tax person when you file income tax next year if you need to report the whole sum then take a foreign tax exclusion on it. Keep good paper records of the amount and something showing taxes were held out and paid already.

Thank you very much for this information

Anette

[trinket 30]

I assume, I maybe wrong, but you might have to declare any money or bank account which has more than 10k. At least I was asked this question by H&R Block this year when we went to file our taxes.