Tax Implications overseas

[charlottebandito]

What would the tax implications be if I inherited $1 mil, invested about $750k and went to live in South America for 30 years then logged into Sharebuilder/Scottrade/or whatever?

Would I still be able to keep everything? Would I only have to pay taxes on a certain amount? Or can I just extract it?

Curious how the tax implications work and if it may work in my favor.

 

[charlottebandito]

HAHA.

I know that some retirees live overseas and collect dividends so maybe they might know. Or americans who take positions overseas for 2-3 year hits.

 

[Brat]

Post your question on:

http://groups.google.com/group/misc.taxes.moderated?hl=en&lr=&ie=UTF-8

 

[mikew]

Charlotte
If you live overseas, you still need to file US taxes. You get an $80,000 exemption for earned income. Dividends, interest and capital gains are unearned income so you would pay taxes on them the same as if your were in the US.

 

[farmerEd]

They don't work in your favor if you want to stay legit...