To enter foreign pension in TurboTax online program, you would create a "Substitute" Form 1099-R.
Within your Personal Tax section:
- Go to Retirement Plans
- Select the IRA, 401(k),
- Pension Plans (1099-R)
- On screen, Your 1099-R, answer Yes and select Continue
- Next screen, Choose your bank or brokerage, select I'll type it in myself
- On the screen Tell Us Which 1099-R You Have
- Check the box I need to prepare a substitute 1099-R and follow the prompts.
As to the Federal ID, most of the foreign pensions often do not have the ID number. Try entering nine 9s. If electronic errors occur due to this 1099-R data entry, enter the pension under Miscellaneous income, see instructions below. As long as the IRS has the pension reported and included in total income, it should not present a problem.
- To your left, select Federal
- From the top, select Wages and Income
- Scroll down to last section -Less Common Income -select Miscellaneous Income, 1099-A, 1099-C- Start
- Next screen, scroll down to Other Reportable Income- Start
- Follow prompts
For more information, see http://www.irs.gov/Businesses/The-Taxation-of-Foreign-Pension-and-Annuity-Distributions
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