- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@BettyL , in my view ( and a google search will show that this is the preferred way), foreign pensions and annuities should be reported as pension i.e. using 1099-R form. Since this no exist for foreign payors, you choose the income group that includes 401k, pension etc. -- this will make TurboTax prompt for name , address of the payor, the distribution, taxable amount ( for foreign pension this would be all taxable), distribution code ( usually 7 for normal distribution ) and of course the EIN of the payor ( you can use a dummy code of 23-1234567 just to keep the software happy -- any auditor will know this is dummy ). This will put the taxable amount on line 5b of 1040, where it belongs. This would al.so mean that this pension amount t would be picked up by the state return ( or should be ), since the software has no way to know that this pension is not domestic.
The other method would put it on shedule-1 as "other taxable income -- which it is not
Is there more I can do for you ?
pk