Search found 12 matches

by Nattokin
Mon Jun 03, 2024 9:02 pm
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 1222

Re: Currency Conversion to Yen for Japanese Taxes

Thank you. This other site info could be helpful, as well. All I know is the years -- not specific dates within those years. Since I only have year-end financial statements dated 12/31 that show the yearly totals, I supposed another approach would be to treat the transactions as carried out on 12/31...
by Nattokin
Mon Jun 03, 2024 6:22 am
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 1222

Re: Currency Conversion to Yen for Japanese Taxes

Follow-up I just compared the Mitsubishi UFJ annual midrange rates and the US Fed yearly exchange rates for 2020 through 2023 (links given above), and I found their annual rates were essentially the same: 2020 2021 2022 2023 106.82 109.80 131.43 140.56 Mitsubishi UFJ 106.78 109.84 131.46 140.50 US ...
by Nattokin
Mon Jun 03, 2024 6:08 am
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 1222

Re: Currency Conversion to Yen for Japanese Taxes

Thanks both of you. This gives me something to go on.
Incidentally, that Mitsubishi UFJ site is the one I've been using for daily TTM rates, but I'd never paid attention to the average 平均 tab before.
by Nattokin
Sun Jun 02, 2024 10:18 pm
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 1222

Currency Conversion to Yen for Japanese Taxes

I'm aware of Japanese Tax Law Article 57-3 《Conversion of Foreign Currency Transactions》 https://www.nta.go.jp/law/tsutatsu/kihon/shotoku/11a/01.htm , and of the need to use daily TTM rates for converting things to JPY. However, for transactions from many years past for which I now have no way of kn...
by Nattokin
Thu May 16, 2024 2:39 am
Forum: Taxes
Topic: Traditional IRA and Japanese Taxation
Replies: 0
Views: 857

Traditional IRA and Japanese Taxation

I'm a US citizen, a permanent resident in Japan, and retired. Among my retirement investments, I have a small Traditional IRA in the US that I opened years ago while working in The States, and I funded it for just a couple of years with $7,636 I earned before moving to Japan. Converting that $7,636 ...
by Nattokin
Sat May 11, 2024 4:44 am
Forum: Taxes
Topic: Summary of taxation rights under Japan's tax treaties
Replies: 2
Views: 550

Re: Summary of taxation rights under Japan's tax treaties

You made my day!

Thank you for posting this link.
by Nattokin
Fri May 03, 2024 11:15 pm
Forum: Taxes
Topic: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return
Replies: 36
Views: 4751

Re: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return

Thank you. I appreciate the detailed replies. Although it will take me some time to fully digest all of the above information, I now get the gist of it. It would be extremely helpful if somewhere there were a simple, concise explanation, possibly in chart form, for various types of common income (US...
by Nattokin
Tue Apr 30, 2024 10:13 am
Forum: Taxes
Topic: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return
Replies: 36
Views: 4751

Re: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return

This just in.... I discovered the following in the technical explanation: Paragraphs 1 and 2 of Article 17 are subject to the saving clause of subparagraph 4(a) of Article 1 (General Scope). Thus, a U.S. citizen who is a resident of Japan and receives a pension, a social security payment, or an annu...
by Nattokin
Tue Apr 30, 2024 7:56 am
Forum: Taxes
Topic: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return
Replies: 36
Views: 4751

Re: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return

Hm-m-m-m... This still is not settled in my mind. Far from it. Today I have been looking at the Technical Explanation of the US-Japan tax treaty, https://www.irs.gov/pub/irs-trty/japante04.pdf . It was recently brought to my attention, and the following sections have me wondering. First, here's what...
by Nattokin
Mon Apr 29, 2024 8:12 am
Forum: Taxes
Topic: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return
Replies: 36
Views: 4751

Re: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return

OK. It seems like we're gradually getting to a more thorough understanding of the taxation of US Social Security for American expats living in Japan. To sum up things thus far, a US Person (such as the OP, booyah) who is resident in Japan must report US Social Security income to BOTH Japan and the U...