Do I have to report income from a foreign pension service ? If yes, how should I do so ? It is like a U.S. Social Security Benefit. But, it is a Japanese version.

[PaulaM]

Yes, the pension income is reported and you can do it two different ways in TurboTax.

1. Enter the foreign pension as a substitute 1099-R form:

• Sign into your return and select the 'take me to my return' button
• Type '1099-R' in the search box, then select the 'jump to' link
• Mark the box 'I need to prepare a substitute 1099-R'

Or (updated for TY 2020)

2. Enter the amount on Line 8 of Schedule 1, Form 1040

• Under the Income and Expense section, select Less Common Income, Miscellaneous Income, Other Reportable Income.
• Enter 'Foreign Pension' for a description and the amount

If you also paid foreign taxes on the pension, You can deduct under Deductions & Credits, Estimates and Other Taxes paid Foreign Taxes.

[edited 1/18/2020 | 5:59am pst]

[mjMike]

Did you really mean line 21 of Form 1040?  I had a look at my 2019 Form 1040, and line 21 is for "Amount of line 20 you want refunded to you."  Or did you mean line 7a, "Other Income from Schedule 1"?

[HelenC12]

For tax year 2020, enter the amount on line 8, Other income, Schedule 1 (Form 1040).