iceflow

Folks,
For anyone receiving either the UK State or ex UK Employer pension......what form do you use to report the income on the US Tax Return. I have been using Form 4852 which is a substitute for a 1099-R. It's been ok so far but just wondering if this is correct or what others use?


Thanks

Nutmegger

There is no need to create any kind of 1099. Just enter the pension as “other income” on line 21 of schedule 1 to form 1040. Unless the forms have changed, that is!

durham_lad

I use form 4852 (substitute 1099-R) to report my 2 UK private pensions but I really don’t think it matters and know that plenty of others report it as other income and I'm sure the IRS doesn’t care as they get their money anyway. Being a USC living in England I won’t be reporting my OAP at all to the IRS as the tax treaty says it is only taxable in the country of residence.

Note that SS is only taxable in the UK once you are living there.

MidAtlantic

I do the same.

iceflow

OK folks thanks for the responses. I was just polling to see what if any options there are.

Thanks

lansbury

If you use Turbo Tax you cannot submit a substitute 1099 as TT requires you input the pension providers tax reference to efile. (I found that out the hard way). So I put my UK pensions under Miscellaneous Income in TT and in the explanation box put Pensions from the United Kingdom. Not sure what other tax software allows.

TT then puts the amount on line 8 of this years 1040. Other income from Schedule 1 line 9.

retman

According to 1040 tax Instructions: Report distributions from foreign pension plans on lines 5a and 5b

durham_lad

I always put 99-1234567 and in section 10 simply state that the provider is a UK company

vespucci

Can a substitute for a 1099-R be e-filed or does it have to be mailed?

lansbury

That's sneaky, never thought of that. However I've used Miscellaneous Income for the past 2 years and had no problems, saves having to do 5 substitute 1099Rs.

durham_lad

Yes. I use Turbotax but I assume all tax software will efile the substitute 1099R

durham_lad

5 foreign Pensions. You’re well set!!

vespucci

Thanks.

lansbury

Mrs L and I are extremely grateful to be that fortunate.

lansbury

Having checked the 1040 instructions I decided to follow your advice and amend my TT return. (Not filed yet).