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Does anyone know if someone retires outside the U.S., say in Canada, and collects social security and IRA distributions whether that income is taxed by the U.S., Canada or both? From the few publications I've found, my guess is that the U.S. would tax the IRA distributions, but not Canada. Social security might be taxed by both. And personal investment income on a U.S. account would be taxed by the U.S. but not Canada even if transferred into Canada. I would appreciate any insight from anyone, especially someone retired in another country as to whether it is too much of a headache to worry about the taxes for two countries and simplier to retire in the U.S. instead. Thank you.
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