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I lost my US residency.When I reach age 70 I will have been out of the USA for 15 years.The bulk of my IRA will be from capital gains.Will the IRS tax me?

2007-10-17 08:56:26 · 1 answers · asked by graeme c 1 in Business & Finance Taxes United States

So I still havent had an answer.To put it another way.DOES UNCLE SAM TAX PEOPLE WITH NO REPRESENTATIVE IN CONGRESS?
I bet he does.His morals have changed since the Boston tea party.

2007-10-19 10:33:47 · update #1

1 answers

Withdrawals from traditonal IRAs are taxed as ordinary income. There is no citizenship or residency test involved. It doesn't matter that the growth is in CG, it's all taxed as ordinary income.

2007-10-17 09:20:03 · answer #1 · answered by Bostonian In MO 7 · 0 0

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