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Retirement tax questions
The best way is to enter a foreign pension information is by creating a substitute Form 1099-R.
To enter foreign pension amount in TurboTax:
1. Click on "Federal Taxes".
2. Select "Wages and Income".
3. Select “Explore on my own”.
4. Scroll down to "Retirement Plans and Social Security”.
5. Select “IRA, 401(k), Pension Plans (1099-R)".
6. On the screen “Tell Us Which 1099-R You Have”, there is a box “I need to prepare a substitute 1099-R”.
7. Follow the on screen instructions
In addition, you will need to make the currency conversion for the pension income. Per the IRS, you may use the following External Resources:
To enter the foreign taxes paid in relation to your pension: https://ttlc.intuit.com/replies/3302405
June 6, 2019
3:09 AM