To enter a foreign pension, you will need to create a substitute form 1099-R.
Here are the steps:
In TurboTax online,
- Sign in to your account and select Pick up where you left off
- At the right upper corner, type in 1099r, then Enter
- Select Jump to 1099r
- Follow prompts
- Next screen, Choose your bank or brokerage, select I'll type it in myself
- On the screen Tell Us Which 1099-R You Have, check the box I need to prepare a substitute 1099-R and follow the prompts.
As to the Federal ID, try entering nine 9s. If electronic errors occur due to 1099-R data entry, enter the pension under Miscellaneous income, see instructions below. As long as the IRS has the pension reported and included in total income, it is not problematic.
- To your left, select Federal
- From the top, select Wages and Income
- Scroll down to last section -Less Common Income -select Miscellaneous Income, 1099-A, 1099-C- Start
- Next screen, scroll down to Other Reportable Income- Start
- Follow prompts
Some foreign pension might not be taxable if it is covered under any tax treaties between the foreign country and the United States. As it is out of our scope for advice, you are advised to consult a specialized professional for verification.
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