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Deductions & credits
Yes, if this is referring to reporting the Gross Income in the Foreign income sections, the program is usually accurate. You do need to record the gross income from foreign sources and then the program will compare this income from all sources of income in your return to determine the foreign tax credit. With this in mind, I am not sure why the program asked you this unless there was a discrepancy in your reporting. Determining this cause however is difficult to pinpoint at this juncture.
As far as your federal pension, instead of creating a substitute 1099 R, there is a simpler approach you may make.
- 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 Foreign Pension Received and the amount of the pension.
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March 1, 2025
8:42 AM