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Retirement tax questions
Yes, as a US citizen all your world-wide income is reported. For most folks receiving a Foreign Pension, they take a Foreign Tax Credit which offsets the US tax they are assessed on the income.
It may be that your small pensions won't affect your tax situation much, after the Standard/Itemized Deduction is applied.
To report Foreign Pension Income:
- Under Wages & Income, scroll all the way down to Other Miscellaneous Income, 1099-A..
- On the next screen, scroll all the way down to Other Reportable Income, Other Taxable Income
- Enter a Description and Amount
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March 10, 2023
4:49 PM