ErnieS0
Expert Alumni

Retirement tax questions

Foreign pensions are reported in a similar way as US pensions @Gary3913. You will have to convert the amounts to US dollars, prepare a substitute 1099-R in TurboTax and claim as tax withheld in foreign taxes as discussed above.

 

To enter a foreign pension:

  • Type "1099-r" in Search in the upper right
  • Select "Jump to 1099-r"
  • Say YES to Did you get a 1099-R in 2021?
  • Continue past Get ready to be impressed
  • On Let's import your tax info, chose the bottom option Change how I enter my form
  • On How to you want to enter your 1099-R? click Type it in myself
  • On Who gave you a 1099-R? select Financial institution or other provider (1099-R)
  • Enter your 1099-R provider's info. For the Payer's TIN users have had success with 00-0000000 or 99-0999999
  • On Enter your 1099-R details use 7 as the Box 7 Distribution code
  • Do not check the IRA box. This is a qualified pension.
  • On Do any of these situations apply to you? check I need to file a substitute W-2 and complete the information
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