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How do I input my UK pension payment without 1099-R when I cannot find substitute 1099-R? Where do I put it?

I tried typing in what I know in the 1099-R but i cannot answer box 7 and it will not let me continue    without an answer.
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2 Replies
maglib
Level 11

How do I input my UK pension payment without 1099-R when I cannot find substitute 1099-R? Where do I put it?

@damenora  To enter foreign pension in TurboTax , you will you would NOT treat it as "other income," rather, you will create a mock form 1099-R. Within your Personal Tax section, Under Retirement Plans, select the IRA, 401(k), Pension Plans (1099-R).

To report your foreign pension in TurboTax follow these steps:

  1. Log in to your TurboTax account if it is not open.
  2. Select the Wages & Income tab.
  3. Scroll down to Less common income click Show more.
  4. On the page Let's Work on Any Miscellaneous Income click on Other reportable income.
  5. On the page Any Other Taxable Income?  select yes.
  6. On the page, Other Taxable Income enter Foreign Pension for the description and the amount.
  7. Select continue and answer No on the next page
**I don't work for TT. Just trying to help. All the best.
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TomK2023
Expert Alumni

How do I input my UK pension payment without 1099-R when I cannot find substitute 1099-R? Where do I put it?

To report a Foreign Pension in TurboTax follow these steps:

  1. Open your return.
  2. Select the Wages & Income tab.
  3. Scroll down to Less common income click Start.
  4. On the page Let's Work on Any Miscellaneous Income, click on Other reportable income.
  5. On the page Any Other Taxable Income?  Select Yes.
  6. On the page, Other Taxable Income enter "Foreign Pension" for the description and the amount.
  7. Select continue and Select Done if you have no other items.

 

If you paid or accrued foreign taxes to a foreign country or U.S. possession and are subject to U.S. tax on the same income, you may be able to take either a credit or an itemized deduction for those taxes.  Both the credit and the deduction are entered in the same place. 

 

Enter Foreign Tax Credit (Form 1116) or Deduction:

  1. Open (continue) your return in TurboTax
  2. Enter all your foreign income in Wages & Income if you haven't already
  3. Select Search, enter foreign tax credit and select Jump toforeign tax credit
    • Or go to Deductions & Credits, and select Start  next to Foreign Tax Credit under Estimates and Other Taxes Paid
  4. When you reach the screen Do You Want the Deduction or the Credit? select the option you prefer for your situation
  5. If you select Take a Credit:
    • Select Continue on the next screen, then select No to fill out Form 1116
    • When you reach the screen Country Summary, select Add a Country
    • Answer the questions about your foreign income, taxes, and expenses on the following screens
    • When finished, you'll be taken back to the Country Summary screen. If you have income from other countries to enter, select Add a Country. Otherwise, select Done
    • Answer the questions on the following screens until you reach your Foreign Tax Credit Summary. If you’re finished with this section, select Done
  6. If you select Itemized Deduction:
    • Enter your foreign taxes paid on the next screen. These should show up in the Deductions & Credits section of your tax return, under Other Deductible Expenses

In most cases, taking the credit works out better than the deduction. We'll help you decide which one's best for you when you go through this section.

 

If you choose to take the credit (most people do), we'll attach Form 1116Foreign Tax Credit, if your situation requires it.

 

TurboTax FAQ: Where do I enter the foreign tax credit (Form 1116) or deduction?

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