Solved: I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?
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New Member

I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?

I live and work in the US. I receive a $300 retirement from a foreign country. How would I treat this income? Is it all subject to the US tax?

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Level 2

I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?

Yes, your foreign pension is taxable to the US.  To enter your foreign pension on your return, follow the instructions below:

  • Choose the Federal return and the Wages & Income tab.
  • Scroll down to Less Common Income and Show more.
  • Choose Miscellaneous Income, 1099-A, 1099-C.
  • Choose Other Reportable Income and say Yes.
  • Even though the screen says "Do not enter income reported on Form 1099-MISC", this is where you will enter the description "Foreign Pension" the amount you received, and who received it, if necessary.

View solution in original post

4 Replies
Level 2

I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?

Yes, your foreign pension is taxable to the US.  To enter your foreign pension on your return, follow the instructions below:

  • Choose the Federal return and the Wages & Income tab.
  • Scroll down to Less Common Income and Show more.
  • Choose Miscellaneous Income, 1099-A, 1099-C.
  • Choose Other Reportable Income and say Yes.
  • Even though the screen says "Do not enter income reported on Form 1099-MISC", this is where you will enter the description "Foreign Pension" the amount you received, and who received it, if necessary.

View solution in original post

New Member

I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?

It appears I get double taxed, ~$2000USD, how do I get credit for tax paid? ~ $500USD in Canada
New Member

I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?

When I enter the $500 as foreign tax paid, there is no reduction on tax paid to Canada
New Member

I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?

Between Canada, US and State, I pay about 1/2 in taxes to 3 entities :(
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