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Jax Tax
Jax Tax, Tax Attorney
Category: Tax
Satisfied Customers: 1408
Experience:  JD, LL.M in Business and Taxation, IRS Enrolled Agent. Expert in Business and Tax Transactions
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I am a german citizen and applying for a green card and permanent

Resolved Question:

german citizen and applying for a green card and permanent residency in the USA.Will my company pension be taxable in the USA?
Submitted: 5 years ago via Nolo Press.
Category: Tax
Expert:  Jax Tax replied 5 years ago.

Jax Tax : Once a green card holder, all worldwide income is subject to US tax.
Jax Tax : Under US German treaty, you will Howe er get credit for tax paid in Germany preventing double taxation.
Jax Tax : What state will you reside in?

florida. so you mean my company pension must be taxed in the USA?

Jax Tax and other Tax Specialists are ready to help you
Expert:  Jax Tax replied 5 years ago.
Yes it will be. Luckily Floirda has no tax. You will need to give me some info. It is my understanding that German pensions are funded with after tax dollars. If this is true, you have a cost basis in your pension equal to the after tax dollars you contributed. Again, if this is true, you can assume your pension payments are first a return of capital taking tax free up to this amount.I am not an expert in German tax so if you had no post tax contributions, the entire amount is taxable again given credit for any taxes due in Germany if any.
Customer: replied 5 years ago.