Question about foreign pensions and Form 1099-R

[oohlalaw]

Hello.

This pertains to Colorado. Are European government pensions considered to be "other income" (Line 21 on Form 1040) or should a recipient of a European pension request the government in question to complete a Form 1099-R? If it varies from country to country, I'd like to find out about pensions from the Netherlands (Sociale Verzekeringsbank) and the U.K. (National Insurance). Thanks.

 

[LdiJ]

Hello.

This pertains to Colorado. Are European government pensions considered to be "other income" (Line 21 on Form 1040) or should a recipient of a European pension request the government in question to complete a Form 1099-R? If it varies from country to country, I'd like to find out about pensions from the Netherlands (Sociale Verzekeringsbank) and the U.K. (National Insurance). Thanks.

No, one would NOT ask a foreign government to fill out a US tax form like 1099-R.

It is simply reported as a pension on the tax return. In professional software there is a place specifically to put pensions when no 1099-R exists. I have no idea how online software might handle something like that.

 

[tranquility]

Hello.

This pertains to Colorado. Are European government pensions considered to be "other income" (Line 21 on Form 1040) or should a recipient of a European pension request the government in question to complete a Form 1099-R? If it varies from country to country, I'd like to find out about pensions from the Netherlands (Sociale Verzekeringsbank) and the U.K. (National Insurance). Thanks.

http://www.irs.gov/Businesses/International-Businesses/Netherlands---Tax-Treaty-Documents
http://www.irs.gov/Businesses/International-Businesses/United-Kingdom-%28UK%29---Tax-Treaty-Documents

When you download the .pdf, search for "pensions".

 

[oohlalaw]

It is simply reported as a pension on the tax return. In professional software there is a place specifically to put pensions when no 1099-R exists. I have no idea how online software might handle something like that.

I think the software would list the pension as "other income." This is what an accountant mentioned to me, although he had never dealt with a foreign pension before.

Thanks.

 

[oohlalaw]

http://www.irs.gov/Businesses/International-Businesses/Netherlands---Tax-Treaty-Documents
http://www.irs.gov/Businesses/International-Businesses/United-Kingdom-%28UK%29---Tax-Treaty-Documents

When you download the .pdf, search for "pensions".

Clear as mud ;-)

 

[davew128]

I think the software would list the pension as "other income." This is what an accountant mentioned to me, although he had never dealt with a foreign pension before.

What you think the software lists it as is irrelevant. A foreign pension is reported as pension income (as required by law) unless it falls into an exception.

 

[oohlalaw]

What you think the software lists it as is irrelevant. A foreign pension is reported as pension income (as required by law) unless it falls into an exception.

What line on Form 1040 do you use to list pension income? Thanks.

 

[LdiJ]

What line on Form 1040 do you use to list pension income? Thanks.

Line 16b...

 

[davew128]

What line on Form 1040 do you use to list pension income? Thanks.

The one that says "Pension Income"