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Taxes, US ex pats in Spain
Ex US citizen. So I'm happy to pay taxes to Spain, no problem with that. I file my IRS return and include my dividends and cap gains (boxes 2,3, etc) for returns on investments. The US tax impact is pretty small since everything that we earn through investments is not actually realised but rolled back into the investments (the rest of our income is basically Social Security), When it comes to Spanish taxes, my Spanish accountant is saying we have to pay taxes on the so called gains in the current tax year, 2025 (=/- 10k Euros impact this year) but if, down the line we cash out some of the investments, the numbers in boxes 2, 3 etc for whatever future year will increase a great deal and it looks like we will get taxed on those figures plus all the intervening years. That makes no sense. Someone please advise.
