Tax for foreign pension

Forum|Forum|3 years ago
January 22, 2023
4 replies
27 views

I am a US citizen, residing in US. I receive a monthly pension from Romanian government for the work done prior to my coming to the US. I use TurboTax Premier to file my return. Do I need to report this pension, and if yes, how?

Best answer by ThomasM125

You do need to report the income as pension income, assuming there is not a tax treaty exempting it. You need to enter a substitute 1099-R form in TurboTax as follows:

Choose the Federal option on your left menu bar
Choose Wages & Income
Choose the Retirement Plans and Social Security menu option
Choose IRA, 401(k), Pension Plan Withdrawals(1099-R)
Choose the enter 1099-R option
Choose Change how I enter my form
Choose Type it in myself
Choose Financial institution or other provider (1099-R)
Enter in as much information as you can regarding the pension income
Work through that section until you see Do any of these situations apply to you?
Choose I need to file a substitute 1099-R
Complete the information requested

ThomasM125Answer

Level 15

You do need to report the income as pension income, assuming there is not a tax treaty exempting it. You need to enter a substitute 1099-R form in TurboTax as follows:

Choose the Federal option on your left menu bar
Choose Wages & Income
Choose the Retirement Plans and Social Security menu option
Choose IRA, 401(k), Pension Plan Withdrawals(1099-R)
Choose the enter 1099-R option
Choose Change how I enter my form
Choose Type it in myself
Choose Financial institution or other provider (1099-R)
Enter in as much information as you can regarding the pension income
Work through that section until you see Do any of these situations apply to you?
Choose I need to file a substitute 1099-R
Complete the information requested