Yes, you are correct. I should have asked if this was a Canadian private pension. In this case, you may report this by performing the following steps.
- Log into your account
- Select Wages and income
- Less Common income
- Miscellaneous Income, 1099-A, 1099>start
- Scroll to the bottom of the page to Other Reportable Income
- Other taxable income, answer yes
- Then give a brief description of the income and the amount listed.. Here, call it Canadian Pension and the amount.
To receive a Foreign Tax Credit for the tax you paid in Canada, go to:
- Deductions and Credits.
- Estimates and Other Taxes paid,
- Foreign Taxes
This is taxable income in Massachusetts because Massachusetts does tax retirement income. The information you entered on your federal return will populate into your Massachusetts state return.
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