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Retirement tax questions
Instead of reporting these as 1099R's, I would suggest reporting this as other income so that the income is reported correctly on line 8Z of Schedule 1 and the 1040. Here is how to report.
To report:
- Go to federal>income and expenses>all income>>show more
- Less Common Income> Start
- Miscellaneous Income,>start
- Other reportable income>start
- Next screen asks Any Other Taxable Income>yes
- Here you can list this as Foreign Social Security and the amounts.
As far as the increase in your taxes, there may have been a change in the exchange rate between the previous year and this year.
@Hg2164
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March 28, 2022
8:15 AM