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Taxes on Superannuation Fund from India
Hi
I am a resident alien on an H1 visa. About a decade back when I worked in India, my employer had a superannuation fund to which I contributed and it had become dormant once I moved to US. Last year they reached out to me about it. In the end, I took a lump sum payout of 50% of the total amount and the rest I get on a monthly basis. Both the lump sum payout and the monthly payments are being taxed in India at 30%.
From my research, the superannuation sounds like a pension plan but I'm not certain. I have the following questions:
1. How should I report these income?
2. Can I claim foreign tax credits on these?
The taxes paid on all of these is less than $600. How do I go about this in TurboTax?
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March 5, 2024
12:10 AM