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Retirement tax questions
You can enter your Foreign Pension either by creating a Substitute 1099-R or entering it under Miscellaneous Income.
If you also paid Foreign Tax on that income, please see the following steps from @TurboTaxKarenJ:
To report the foreign tax paid on your pension for foreign tax credit:
- Enter foreign tax credit in the search box at the top of the page and click the Jump to link
- Click 'Yes" you paid foreign taxes
- Click through the screens regarding foreign interest and dividends
- Click yes that you have reported all your foreign income already in TurboTax
- Click that you want to take a credit
- Answer question about the Simplified Limitation Election
- Choose income type for pension - it will be General category income
- Add the name of your county
- Enter description -XXX pension
- Enter Pension Income amount that you previously reported in another section of TurboTax (1099-R substitute)
- Enter your taxes you paid on your foreign pension in the box "Other income"
- Continue through the foreign tax credit screens until done.
Form 8833 would not apply in this case, but click this link for dertailed info from the IRS.
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‎January 27, 2020
6:30 PM