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Search: Posts Made By: durham_lad
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Forum: USA
Mar 14th 2024, 9:03 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

As an aside, when living in the UK SS is only taxed in the UK but you can’t get TT to put zero as the taxable amount on form 1040, it always puts 85% of your SS as taxable. The solution from the TT...
Forum: USA
Mar 10th 2024, 8:26 am
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

That is a great reason for simply reporting it as Other Income!!
Forum: USA
Mar 4th 2024, 7:21 am
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

so you did :)

Someone needs to take one for the team, add it to their 1040 on line 6 and see if the IRS rejects the return. Then report back here.
Forum: USA
Mar 3rd 2024, 8:09 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

If I was filing a State return in Oregon I would pose the question directly to the State regulators. It looks like they have good places to ask if foreign SS payments are free of State taxes. Given...
Forum: USA
Mar 3rd 2024, 3:10 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

I agree that it is easier, and the IRS won’t object, to putting foreign pensions as other income. TT is also happy to let you put the foreign pension as other income. The main point I am making above...
Forum: USA
Mar 3rd 2024, 3:08 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

I agree that it is easier, and the IRS won’t object, to putting foreign pensions as other income. TT is also happy to let you put the foreign pension as other income. The main point I am making above...
Forum: USA
Mar 3rd 2024, 7:16 am
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

on page 23 it states that foreign pensions and annuities should be reported on line 5. (If you don’t receive a 1099-R there is a substitute form available)

on page 30, the instructions headed...
Forum: USA
Mar 2nd 2024, 1:43 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

The treaty states the following in Article 17:


Since OAP is 100% taxed in the UK then it is also taxed at 100% in the US for a US resident.

For a UK resident receiving US SS then 85% or less...
Forum: USA
Mar 2nd 2024, 1:40 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

The treaty states the following in Article 17:


Since OAP is 100% taxed in the UK then it is also taxed at 100% in the US for a US resident.

For a UK resident receiving US SS then 85% or less...
Forum: USA
Feb 23rd 2024, 5:28 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

TT prompts for and enters the information on form 4852 which accompanies the substitute 1099. I have done this every year for the UK pension for 16 years now, so it is a hard habit to break.

As...
Forum: USA
Feb 10th 2024, 10:53 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

The tax treaty states that portions of pension income that is tax free in one country shall be tax free in the other. On line 6 for Social Security at least 15% is tax free, more if the total income...
Forum: USA
Feb 6th 2024, 7:06 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

Sounds like a lot of work and potential IRS audit for $60/year, but it certainly sounds like a possibility. Not clear though whether the OAP, being a State Pension as mentioned in section 17 of the...
Forum: USA
Feb 6th 2024, 6:18 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

I understand where you are coming from, very much like a deductible IRA where contributions are tracked so on making distributions the taxable portion of each distribution is apportioned...
Forum: USA
Feb 1st 2024, 6:27 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

What I do, and have done for about 15 years, is complete a substitute 1099R for each of my 2 UK private pensions and enter the Federal Tax id as 99-1234567 in order to get TT to e-file. In the...
Forum: USA
Feb 1st 2024, 7:34 am
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

unfortunately not, which is why we have endless debates on the topic.
Forum: USA
Jan 31st 2024, 5:36 pm
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

I have always used 4852 (substitute 1099-R) and make up employer TIN’s for my 2 UK private pensions, simply to get TurboTax to move on. The 4852 explains what the pensions are and why no 1099s.
Forum: USA
Jan 31st 2024, 8:30 am
Replies: 72
Views: 8,382
Posted By durham_lad

Re: UK State Pension and US tax return

I believe when the US-UK tax treaty refers to “public pensions” it is referring to pensions paid to retired government workers, not the OAP or SS benefits. From the tax treaty, article 17
Showing results 1 to 17 of 17


 
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