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adysan
New Member

Retired Chinese parents on pension got Green card

My retired Chinese parents (Citizens of China) got their Green cards late 2023. They get some pension from the Chinese government in China and have no other source of income. Questions I'd like some help with,

 

1. Do I need to file taxes for them in the US for 2023 is their income in USD is less than $20K

2. What flavor of Turbotax should I use?

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1 Reply
DaveF1006
Expert Alumni

Retired Chinese parents on pension got Green card

No, if their only income is less than $20K, they do not need to file because this is less than their filing threshold for the year. If they have foreign assets such as deposit accounts or Trust accounts overseas, they do need to report these.  Please read this IRS article for further information to see if there are additional reporting requirements.

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