Hi,
I have a foreign (Israel) pension and child programs that don't qualify IRS rules for pension and require/benefit reporting on plan growth as taxable income.
I found topics related to income and/or payments reports, but not the taxation of foreign funds growth.
- In my pension reports I have both interest and management fees. Shall I report interest or just the difference between January 1 to December 31?
- What is the best way to report it in TurboTax? Shall I report it as Miscellaneous income or Foreign earned or something else?
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Management fees are not deductable so you will only report the interest.
You can enter your Israel pension income on Form 1040, Line 21 as "other income" or "foreign pension."
To report your foreign pension in TurboTax follow these steps:
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