Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 06-07-2018, 10:13 AM   #21
Alan's Avatar
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 29,355
Originally Posted by ExpatCM View Post
Thanks for the reply
Perhaps I worded poorly. I said non USD but meant to imply that I’d convert the local interest figures to USD using the year end average exchange rate set by the treasury.

So it sounds like it depends if it’s more or less advantageous for a given tax year if I’m understanding you correctly? I’d like to not include them this year so as to increase the amount I can use as a withdrawal conversion from a traditional IRA to a Roth IRA and not generate enough taxable income to necessitate filing a tax return. I know the standard deduction is increasing to 24K for a married couple filing joint so that helps us.

Can anyone definitively confirm this response from IRS guidelines?

Thanks everyone
We are doing similar financial gymnastics while we do IRA to Roth conversions, so can appreciate the difficulties faced. I guess that you aware that the published Treasury rate for FBAR reporting is the spot rate as of December 31st and not the published average that the IRS provides.

For FBAR use this:
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!


foreign income, income tax, worldwide income

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tax on worldwide income? NYEXPAT FIRE and Money 9 02-01-2018 05:39 AM
Ranking of Healthcare Systems Worldwide RetireeRobert Health and Early Retirement 37 12-11-2007 09:12 AM
New Tweedy Fund - Worldwide High Div lswswein FIRE and Money 10 08-09-2007 05:27 PM
World Wealth Report or 8.7 Million High-Net-Worth Individuals Worldwide Spacebär FIRE and Money 5 07-01-2006 09:40 AM
Slide Looks Worldwide boont FIRE and Money 25 06-16-2006 04:28 PM

» Quick Links

All times are GMT -6. The time now is 11:00 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.