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If I am a resident alien, do I report foreign pension income? If so, how? I don’t have a document (like a W-2) to report foreign pension income.

Forum|Forum|6 years ago
January 29, 2020
1 reply
29 views

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Best answer by KarenJ2

The taxable amount is generally the Gross Distribution minus the Cost.

Your retirement pension plan is generally taxed by the US as if it were a normal taxable account. Earnings within the individual pension plan may be taxable in the US in the current year, even if they are tax-free in the country where the plan is located.

You will need to exchange the amount to USD. I would suggest that you enter it under Other Income,

Federal Taxes
Wages and Income
Miscellaneous Income
Other Reportable Income
Enter it as Any Other Taxable Income

If you paid foreign taxes on this income,you can also claim foreign tax credits.

Please see the attached from the IRS.

The Taxation of Foreign Pension and Annuity Distributions

Alumni - Intuit

The taxable amount is generally the Gross Distribution minus the Cost.

Your retirement pension plan is generally taxed by the US as if it were a normal taxable account. Earnings within the individual pension plan may be taxable in the US in the current year, even if they are tax-free in the country where the plan is located.

You will need to exchange the amount to USD. I would suggest that you enter it under Other Income,

Federal Taxes
Wages and Income
Miscellaneous Income
Other Reportable Income
Enter it as Any Other Taxable Income

If you paid foreign taxes on this income,you can also claim foreign tax credits.

Please see the attached from the IRS.

The Taxation of Foreign Pension and Annuity Distributions

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