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A friend of mine, an American citizen living & working in Hong Kong for many years, is about to receive a very large lump sum payout of funds from an overseas retirement scheme--at least $300K. This is how one retires here, "installments" is not an option. Is there anything he can do to diminish the tax hit he's going to face?

Check with the Tax Strategies board. He might be able to roll it into an IRA or be eligible for 10 year averaging. I believe he could if he was here with a US company. I don't know how being overseas effects this though.

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