FING TAX With a UK State Pensiom
Feb 26th 2013, 4:29 pm
#1
Thread Starter
Joined: Mar 2003
Posts: 68,280
FING TAX With a UK State Pensiom
So have started getting my UK OAP state pension
and facing the task of filling in the tax form I gave it to the wife to do ...
she decided on using TAXACT ..the cheapest
then filed off a question on how to it ..
quickly got an answer and its now filed
here is what they said
Dear TaxACT® Customer:
If you received a foreign pension, you first must determine whether the foreign pension is taxable. TaxACT has no process to determine this; please review the IRS links below to make this determination:
United States Income Tax Treaties - A to Z
IRS Publication 901 U.S. Tax Treaties
IRS Publication 54 Tax Guide for U.S. Citizens and Resident Aliens Abroad
Once you determine the amount of foreign pension that is taxable, there are two places you can enter the pension amount. In a few instances (based on treaties) the pension benefits can be entered as Social Security benefits.
However, the most common place to enter foreign pension benefits is on Form 1040 FEC Foreign Employer Compensation and Pensions.
To enter the foreign pension benefits in TaxACT on Form 1040 FEC:
From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab Click Retirement Plan Income to expand the category and then click Foreign pension distributions
Click Add to create a new copy of the form or click Review to review a form already created
The program will proceed with the interview questions for you to enter or review the appropriate information
On the screen titled Foreign Employer Compensation and Pensions - Employer's Name, you must enter the name of the foreign country in the box Employer's Country Code.
If you do not enter the foreign country, you will receive a Red Alert titled FEC - Employer Information during the electronic filing steps, which will prevent you from being able to e-file your tax return.
http://www.taxact.com
and facing the task of filling in the tax form I gave it to the wife to do ...
she decided on using TAXACT ..the cheapest
then filed off a question on how to it ..
quickly got an answer and its now filed
here is what they said
Dear TaxACT® Customer:
If you received a foreign pension, you first must determine whether the foreign pension is taxable. TaxACT has no process to determine this; please review the IRS links below to make this determination:
United States Income Tax Treaties - A to Z
IRS Publication 901 U.S. Tax Treaties
IRS Publication 54 Tax Guide for U.S. Citizens and Resident Aliens Abroad
Once you determine the amount of foreign pension that is taxable, there are two places you can enter the pension amount. In a few instances (based on treaties) the pension benefits can be entered as Social Security benefits.
However, the most common place to enter foreign pension benefits is on Form 1040 FEC Foreign Employer Compensation and Pensions.
To enter the foreign pension benefits in TaxACT on Form 1040 FEC:
From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab Click Retirement Plan Income to expand the category and then click Foreign pension distributions
Click Add to create a new copy of the form or click Review to review a form already created
The program will proceed with the interview questions for you to enter or review the appropriate information
On the screen titled Foreign Employer Compensation and Pensions - Employer's Name, you must enter the name of the foreign country in the box Employer's Country Code.
If you do not enter the foreign country, you will receive a Red Alert titled FEC - Employer Information during the electronic filing steps, which will prevent you from being able to e-file your tax return.
http://www.taxact.com
Last edited by Ray; Feb 26th 2013 at 4:32 pm.
