Singapore CPF distribution and Taxes

[arb65]

My CPF account was closed last year 2024 and amount (principle contribution + growth) was distributed to me. This was before I became a US person for tax purpose.

1. As per guidance from my international tax practitioner , only the growth on initial principal contribution is subject to US tax. Is this correct?

2. where in turbotax I should enter the distribution (growth) amount for taxes. What forms apart from FBAR and 8398 I need to fill out?

Thanks,

Arup

[MaryK4]

You can file as Miscellaneous income:

Under Less Common Income select Miscellaneous Income, 1099-A, 1099-C
 

1. On the Let's Work on Any Miscellaneous Income page, select Start to the right of Other reportable income
2. On the Any Other Taxable Income? screen, select Yes
3. On the Other Taxable Income screen enter the description and the amount.  Select Continue
4. On the Other Miscellaneous Income Summary screen, select Done

[arb65]

Thanks @MaryK4,

Also about my first question, is the whole distribution taxable or just the growth on contribution?

Regards,

Arup

[DaveF1006]

Yes, the distribution is taxable because the US and Singapore does not have a tax treaty.