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Old 02.02.2015, 11:01
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Us tax tips for retired expat

Does anyone know:
Is it true that a retired us citizen cannot deduct living expenses: rents etc
Are social security and pensions non deductible.
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Old 02.02.2015, 11:38
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Re: Us tax tips for retired expat

Housing expenses are deductible (minus the exclusion), provided you have earned income.

Pensions are not earned income, so cannot be excluded.

Tom

Last edited by st2lemans; 02.02.2015 at 12:45. Reason: fixed
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Old 02.02.2015, 11:41
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Re: Us tax tips for retired expat

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social security and pensions
Just an FIY in case you haven't come across this yet: The Windfall Elimination Program may reduce your US Soc Sec if you are also receiving Swiss AHV. (Or a state pension from any other country.)

http://www.ssa.gov/retire2/wep.htm
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Old 02.02.2015, 12:16
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Re: Us tax tips for retired expat

I didn't think you could claim the foreign housing exclusion/deduction for rents when a retiree, as it is based on earned or employment income.

See here from IRS http://www.irs.gov/Individuals/Inter...n-or-Deduction :

"The housing exclusion applies only to amounts considered paid for with employer-provided amounts, which includes any amounts paid to you or paid or incurred on your behalf by your employer that are taxable foreign earned income to you for the year (without regard to the foreign earned income exclusion). The housing deduction applies only to amounts paid for with self-employment earnings."

As I've said in some other threads, living abroad as a retiree and keeping the blue passport = financial suicide. No foreign earned income exclusion for sure, and pensions and SS are taxable income without being excludable.
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Old 02.02.2015, 12:39
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Re: Us tax tips for retired expat

Thanx for your answer. It confirmed some of the info we received already. We realise we are becoming the paria for the financial world and a milking cow for the IRS.
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Old 02.02.2015, 13:41
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Re: Us tax tips for retired expat

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Thanx for your answer. It confirmed some of the info we received already. We realise we are becoming the paria for the financial world and a milking cow for the IRS.
Welcome to life outside of the grand ol' US of A. Wait until you try opening a bank account....
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