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The IRS has changed the way they want you to report a Foreign Pension, since - as you have discovered - a "dummy" TIN will no longer work. Therefore, you will now enter your foreign pension as "Other Income." To enter it on your return, follow the instructions below:
The IRS has changed the way they want you to report a Foreign Pension, since - as you have discovered - a "dummy" TIN will no longer work. Therefore, you will now enter your foreign pension as "Other Income." To enter it on your return, follow the instructions below:
Hi, If I enter the foreign pension as other income then my NJ state return does not recognize it as pension income and includes in taxable income. In NJ the first $100,000 of pension income is not taxable.
I need to be able to generate a 1099-R is there a way to do this without a TIN?
@X068119 You cannot create a 1099-R for income that was not reported on a Form 1099-R. However, there is a work-around. On the NJ return, you will receive a screen that shows the Pension income you claimed on the Federal Return. You cannot delete the entry, but you can input negative income to give yourself the exclusion. If you do this, you will want to mail in your NJ return, and provide both a statement as to why you are claiming the exclusion the way you are and a copy of the document that shows the income in question is a foreign-sourced pension.
There doesn't seem to be anything in NJ law that prevents you from excluding pension income that is Foreign-sourced, but here is the website link that reviews NJ tax law: NJ Income Tax – Income Exclusions - NJ.gov
Please bear in mind that there are other qualifying factors that determine if the income is excludable or not, and your input is completely manual, so make sure you qualify for the exclusion if you are claiming it (income requirements).
Another solution would be to enter a real TIN, for example, from a company you use such as Fidelity. Would there be any issues related to this?
Paul
Do you have a foreign pension you are trying to report, @jordanpaul001 ?
yes, an English pension. I need to enter it as a pension so that it's not taxable on my state return. I can leave the TIN blank and mail it, but it would be nice to find a solution so that I can e-file.
You may use 99-0999999 as this has been successful. Let us know if this works.
Seems to work. Thanks
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