Re: US resident and have canadian NR4 for pension ...
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New Member

US resident and have canadian NR4 for pension income

I am a US resident with a Canadian NR4 for pension income. I try to enter it as suggested in posts but can not enter the canadian Payer/EIN. Turbo tax field requires numbers only and the payer/ein on the NR4 starts with letters.

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Employee Tax Expert

US resident and have canadian NR4 for pension income

You have two options to report this income on your U.S. tax return - you can enter your foreign pension income as a substitute form 1099-R OR you can enter the foreign pension income on Form 1040, Line 21 as "other income" or "foreign pension." (preferable)

 

To enter your foreign pension income as a substitute form 1099-R:·

  1. Click the Federal Taxes tab at the top.
  2. Select Wages and Income.
  3. Scroll down to the Retirement Plans and Social Security section (Use Jump to Full List, if the entire list isn't displayed.)
  4. Select IRA, 401(k), Pension Plans Withdrawals (1099-R). (See attached screenshot.)
  5. On the screen “Tell Us Which 1099-R You Have”, there is a box “I need to prepare a substitute 1099-R”. Click on that box and continue. Select the foreign address radio button when entering the payer's address.

 

To enter the foreign pension income on Form 1040, Line 21 as "other income" or "foreign pension", go to the "Less common income" section of Federal Taxes > Wages and Income, and select the very last option "Miscellaneous Income". If you choose this way, then you won't have to create a substitute Form1099-R, by filing Form 4852. However, the end tax result (in terms of United States tax rate and amount assessed) will be identical under both methods. This method will avoid the problems with the payer ID number.

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New Member

US resident and have canadian NR4 for pension income

Thank You... One more thing... At this point where would I enter taxes paid from this NR4

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Employee Tax Expert

US resident and have canadian NR4 for pension income

You can enter the foreign taxes paid under the Estimates and Other Taxes Paid, Foreign Taxes section under Deductions & Credits.

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New Member

US resident and have canadian NR4 for pension income

With US earned income, medical plan costs and insurance are deducted from the gross income.  If someone is claiming income on a NR4, and there is medical plan insurance costs that are deducted at source, the NR4 does not deduct from the gross income as the USA earned income because it is not treated the same.  I have been claiming my NR4 without taking that into account, should I deduct medical insurance costs from the NR total income amount much the same as the earned income in the USA is reported?

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Employee Tax Expert

US resident and have canadian NR4 for pension income

Yes, you can deduct the medical insurance costs from the NR4 total income. Enter in the Less common income section, Miscellaneous Income.

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Returning Member

US resident and have canadian NR4 for pension income

I used this last year and IRS required a F1116.  This year I reported the income as 1099 and F1116 and TTAX showed a tax refund - The TTAX error check said no errors - I filed and the IRS billed me instead of a refund.  I'm confused as to how to list the NR4.  I worked up a 1040X and found that If I report the NR4 on 1099 and F1116 I owe $619 if I report the NR4 only on the F1116 I have a refund of $220.  What to do?

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New Member

US resident and have canadian NR4 for pension income

Once you are in the Miscellaneous section do you use the tab for other income not already reported?

 

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Expert Alumni

US resident and have canadian NR4 for pension income

In the Miscellaneous Income section, select Other reportable income.  Enter your income on the Other Taxable Income screen.

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Level 1

US resident and have canadian NR4 for pension income

None of these answers seem to deal with the actual question.  I have the same problem.  TurboTax will not let me file with a blank EIN field on the 1099-R forms.  But a Canadian payer has no such number.    Should I just put in 00-0000000 as the EIN?

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