Dual Citizenship and taxes
#16
Lost in BE Cyberspace
Joined: Jul 2016
Posts: 10,005
Re: Dual Citizenship and taxes
I’m pretty sure that the SS still has to be reported on the US tax return. A great many US residents don’t pay tax on their SS. It is reported on line 5a and the taxable amount, $0, reported on line 5b. The same goes for Roth IRA withdrawals for UK residents, total reported on line 4a and taxable amount, $0, reported on line 4b.
#17
BE Forum Addict
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,129
Re: Dual Citizenship and taxes
The problem arises is when other income passes a threshold and then social security payments reduced, in the case I am referring to I am wondering since social security is taxed to the Uk resident, how that would be excluded from the US return- or can one just offset any US taxes against UK tax liability. Or put another way if US social security not taxable to a UK resident how is it reported on a US return ?.
The IRS will have received the 1099 from SS reporting how much has been paid and will want to see it on the 1040, probably on the line reserved for SS on the 1040.