I have income from a foreign pension plan. Where can I input this income and the foreign tax paid on this income so I can get a foreign tax credit for US tax purposes?

The foreign pension income comes in general and passive forms for foreign tax credit purposes.

212

Expert Alumni

Dec 29, 2021 1:28:47 PM

Yes, to record a foreign tax credit: If your foreign taxes paid are more than $600, please perform the following steps.

1. After signing into your account, select Take me to my return.

2. At the right upper corner, in the search box with the magnifying glass , type in foreign tax credit and Enter

3. Select Jump to foreign tax credit

4. Start with screen Foreign Taxes and select Continue to follow prompts.

5. At this time, you will need to stop because the IRS is currently working on Form 1116 for 2021.

6. Note, if your foreign taxes are $600 or less, you may enter this directly in Turbo Tax