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Level 2

Question

foreign retirement pension

4 replies
56 views

I am a green card holder living in US. Last 2024 I received a one time payment of 10000 dolars from the public retirement fund in Peru ( similar to US Social Security). How do I report on my Us income taxes.

TurboTax Business Windows

Level 15

@Karem , Unfortunately there is no Tax treaty between US and Peru.

Thus you will have to declare this income as a pension with full amount as taxable income ( generally you should be able to do this telling TurboTax that you have pension/annuity income and that everything in box 1 is taxable.

Also if Peru taxes this income, you do not get any foreign tax credit because there is no treaty "double taxation " clause in effect.

Is there more I can do for you ?

KaremAuthor

Level 2

Thanks so much.

I thought I would be able to report this as a social security payment.