pk
Level 15
Level 15

Retirement tax questions

@aussiebobaustin ,  while I generally agree with the comments by my colleague @Opus 17  on this thread,  before I jump in I want to be sure that I am reading/ understanding the situation correctly.  Thus  below I list my assumptions:

(a)   You a US person ( citizen/GreenCard ) worked in Australia for many years.

(b) For all those years, you filed both US and Australia returns  recognizing  your world income.

(c) During your stay / work in Australia,  you did not  contribute  to  the local pension fund i.e. the basis of the  fund at distribution is zero  ( for US tax purposes ).

(d)  During your work life ( both domestic and Foreign/Australia you did participate  in US or Australian equivalent of  Social Security  and Medicare  ( FICA/ SECA ).

(e) Currently  your tax home is US

 

Please confirm and/or correct my assumptions to avoid  me being in the left field.

 

Also are you talking about  tax year 2023 or 2024 ?

 

I will circle back once I hear from you --yes ?

 

pk