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Level 1

Question

British Army Pension

Forum|Forum|6 years ago
January 27, 2020
8 replies
65 views

Just started receiving a retirement pension from the British Army. Someone suggested IRS form 8833, so that it would not be taxable.

Is this correct? How do I complete this form?

Not A Product Question

Level 15

You can enter your Foreign Pension either by creating a Substitute 1099-R or entering it under Miscellaneous Income.

If you also paid Foreign Tax on that income, please see the following steps from @TurboTaxKarenJ:

To report the foreign tax paid on your pension for foreign tax credit:

Enter foreign tax credit in the search box at the top of the page and click the Jump to link
Click 'Yes" you paid foreign taxes
Click through the screens regarding foreign interest and dividends
Click yes that you have reported all your foreign income already in TurboTax
Click that you want to take a credit
Answer question about the Simplified Limitation Election
Choose income type for pension - it will be General category income
Add the name of your county
Enter description -XXX pension
Enter Pension Income amount that you previously reported in another section of TurboTax (1099-R substitute)
Enter your taxes you paid on your foreign pension in the box "Other income"
Continue through the foreign tax credit screens until done.

Form 8833 would not apply in this case, but click this link for dertailed info from the IRS.

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Level 2

I have a Canadian Forces Pension. If I decide to use a Substitute 1099-R for Canadian Forces Pension (see chain below) what would I put in Box 7?

Previously you had reminded me this is not earned income and in Georgia there is an advantage to note retirement income.

Thanks so much 🙂

Level 15

Box 7 would be code 7 for a normal pension distribution. For more, see page 13 of About Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans.

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