LinaJ2018
Intuit Alumni

Retirement tax questions

To enter a foreign retirement in TurboTax online program, you will need to create a substitute form 1099-R. 

 

Here are the steps:

 

  • Sign in to your account and select Pick up where you left off
  • At the right upper corner, type in 1099r, then Enter
  • Select Jump to 1099r
  • On-screen, Your 1099-R, answer Yes and select Continue
  • Next screen, Choose your bank or brokerage, select I'll type it in myself
  • On the screen Tell Us Which 1099-R You Have, check the box I need to prepare a substitute 1099-R and follow the prompts.  

 

As to the Federal ID, if your foreign issuer does not have the ID number, try entering nine 9s.  If electronic errors occur due to 1099-R data entry, enter the pension under Miscellaneous income, see below instructions.  As long as the IRS has the pension reported and included in total income, it is not problematic. 

 

  • To your left, select Federal
  • From the top, select Wages and Income
  • Scroll down to last section -Less Common Income -select  Miscellaneous Income, 1099-A, 1099-C- Start 
  • Next screen, scroll down to Other Reportable IncomeStart
  • Follow prompts

For more information, see http://www.irs.gov/Businesses/The-Taxation-of-Foreign-Pension-and-Annuity-Distributions

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