DaveF1006
Expert Alumni

Retirement tax questions

Yes there is a way to report this in Turbo Tax. Please refer to this Turbo Tax link for the procedure for reporting this in Turbo Tax. please follow these steps as outlined in the article.

  1. On the Wages & Income screen, scroll down to Retirement Plans and Social Security.
  2. Click the Start/Revisit box next to Social Security (SSA-1099, RRB-1099)
  3. Click the Yes box on the screen, Did you receive Social Security or Railroad Retirement benefits in 2019?
  4. On the Tell us about the benefits you received screen, enter the amount of your foreign pension in Box 5.
  5. Back on the Wages & Income screen, scroll to Less Common Income.
  6. Click the Start/Revisit box next to Miscellaneous Income, 1099-A, 1099-C
  7. On the next screen, click the Start/Revisit box next to Other reportable income.
  8. Click the Yes box on the Any Other Taxable Income screen.
  9. On the next screen, enter the amount of your pension as a negative number.  For Description enter “UK pension offset” (or something similar)
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