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jonb081954
New Member

If I am a resident alien, do I report foreign pension income? If so, how? I don’t have a document (like a W-2) to report foreign pension income.

 
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KarenJ2
Expert Alumni

If I am a resident alien, do I report foreign pension income? If so, how? I don’t have a document (like a W-2) to report foreign pension income.

The taxable amount is generally the Gross Distribution minus the Cost.

 

Your retirement pension plan is generally taxed by the US as if it were a normal taxable account. Earnings within the individual pension plan may be taxable in the US in the current year, even if they are tax-free in the country where the plan is located. 
 

You will need to exchange the amount to USD.  I would suggest that you enter it under Other Income,

  1. Federal Taxes
  2. Wages and Income
  3. Miscellaneous Income
  4. Other Reportable Income
  5. Enter it as Any Other Taxable Income

If you paid foreign taxes on this income,you can also claim foreign tax credits.

 

Please see the attached from the IRS.

The Taxation of Foreign Pension and Annuity Distributions

 

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1 Reply
KarenJ2
Expert Alumni

If I am a resident alien, do I report foreign pension income? If so, how? I don’t have a document (like a W-2) to report foreign pension income.

The taxable amount is generally the Gross Distribution minus the Cost.

 

Your retirement pension plan is generally taxed by the US as if it were a normal taxable account. Earnings within the individual pension plan may be taxable in the US in the current year, even if they are tax-free in the country where the plan is located. 
 

You will need to exchange the amount to USD.  I would suggest that you enter it under Other Income,

  1. Federal Taxes
  2. Wages and Income
  3. Miscellaneous Income
  4. Other Reportable Income
  5. Enter it as Any Other Taxable Income

If you paid foreign taxes on this income,you can also claim foreign tax credits.

 

Please see the attached from the IRS.

The Taxation of Foreign Pension and Annuity Distributions

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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