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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13116
Experience:  15years with H & R Block. Divisional leader, Instructor
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Using the 2008-2018 Luxembourg 'reclaim citizenship law', th

Customer Question

Using the 2008-2018 Luxembourg 'reclaim citizenship law', this May I and all my descendants will become permanent dual citizens of the USA and Luxembourg. I understand that the US and Luxembourg have a dual citizenship agreement whereby income taxes are paid only to the country in which the person lived while earning said income. But, how about 'non-earned' income and assets, such as IRAs, pensions, SS, etc.?
Robert Arens ***@******.***
Submitted: 6 months ago.
Category: Tax
Expert:  Robin D. replied 6 months ago.
HelloUnearned income is covered in the treaty. Article 12 covers interest, resident state taxes.Article 14 covers Gains (capital) both may tax depending on where the property is located but the resident country give a tax credit.Article 19 covers pensions and SS. If pension is paid for past employment then it is taxed by country where it was earned. SS paid is taxed by the paying country. IRAs are taxed in the US because they are a US account. Above is the treaty.
Expert:  Robin D. replied 6 months ago.
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Expert:  Robin D. replied 6 months ago.
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