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Retirement tax questions
Thank you for your quick response. The State in question is New Jersey.
The issue is that I am not claiming foreign tax credit because I am following the advice received by you of reporting the income from foreign pension under 'Other Miscellaneous Income' and at the same time excluding the same amount with a negative figure under the US International treaty to avoid double taxation. The foreign pension is therefore not taxed in the US.
Interestingly, the foreign IRS has not yet charged me with the local taxes on the pension received back in 2023!
Another reason I cannot claim a tax credit because I have not paid foreign taxes yet...
Look forward to your suggestion.
Thanks
March 3, 2025
3:55 AM