Pensions from UK question - US Tax Form
#31
Re: Pensions from UK question - US Tax Form
99-1234567
00-0000000
11-1111111
and every time TT rejects the form with an invalid employers number error. So guess back to schedule 1 and miscellaneous income.
#32
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Re: Pensions from UK question - US Tax Form
If it does reject the EIN numbers when I come to file then I'll use your method. I don't really think it makes any difference except the 4852 forms give plenty of space to explain where the pension is coming from and why there is no 1099-R. I use the TT downloaded version rather than on-line if that makes a difference,
#33
Re: Pensions from UK question - US Tax Form
At what point does TT reject it? I just did a validation check on my 2020 return and TT says that it is waiting for the IRS to confirm forms 4852. I currently have those forms completed with the EIN numbers of 99-1234567, imported from the previous year. I've been doing this for 14 years when I first starting receiving a UK private pension.
If it does reject the EIN numbers when I come to file then I'll use your method. I don't really think it makes any difference except the 4852 forms give plenty of space to explain where the pension is coming from and why there is no 1099-R. I use the TT downloaded version rather than on-line if that makes a difference,
If it does reject the EIN numbers when I come to file then I'll use your method. I don't really think it makes any difference except the 4852 forms give plenty of space to explain where the pension is coming from and why there is no 1099-R. I use the TT downloaded version rather than on-line if that makes a difference,
I also use the downloaded version.
It shouldn't make any difference to final result - but perhaps TT is stepping over itself in the processing of the input of info, depending on which version one uses...
But more to the point - TT (in downloaded version) is showing that Form 4852 simply isn't ready (at their end) for any kind of filing ..
It says that form will be ready for mail filing on 25 Feb. so I believe we'll know then whether e-filing will also be accepted. Meanwhile I'm still seeing the big red DO NOT FILE warning mentioned in my 1st post (above), atop each of my four 4852s
#34
Re: Pensions from UK question - US Tax Form
At what point does TT reject it? I just did a validation check on my 2020 return and TT says that it is waiting for the IRS to confirm forms 4852. I currently have those forms completed with the EIN numbers of 99-1234567, imported from the previous year. I've been doing this for 14 years when I first starting receiving a UK private pension.
If it does reject the EIN numbers when I come to file then I'll use your method. I don't really think it makes any difference except the 4852 forms give plenty of space to explain where the pension is coming from and why there is no 1099-R. I use the TT downloaded version rather than on-line if that makes a difference,
If it does reject the EIN numbers when I come to file then I'll use your method. I don't really think it makes any difference except the 4852 forms give plenty of space to explain where the pension is coming from and why there is no 1099-R. I use the TT downloaded version rather than on-line if that makes a difference,
#35
Re: Pensions from UK question - US Tax Form
I gave up with the substitute 1099 and 4852, and went back to schedule 1. E-filed yesterday afternoon and got back note of acceptance from IRS and Oregon within a few hours.
#36
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Posts: 7
Re: Pensions from UK question - US Tax Form
I got a few (4) UK pensions consolidated into a single defined benefits SIPP. Never taken any distribution as yet. Just plan on taking.
I assume there is a tax free amount. Don’t see how to reflect that in Form 4852 or Form 1040 Schedule 1.
So many people have experience here, just wonder if you could share here.
On Form 4852
Line 8 b Taxable amount
How to determine that ?
Line 8 e Capital gain (Included in Line 8 b)
Does it mean any amount above tax free is capital gain ?
Line 9 How did you determine the amounts in line 7 & 8
What document should be referenced here ?
If Form 1040 Schedule 1 Other Income is used, how to reflect the tax free amount ?
I assume there is a tax free amount. Don’t see how to reflect that in Form 4852 or Form 1040 Schedule 1.
So many people have experience here, just wonder if you could share here.
On Form 4852
Line 8 b Taxable amount
How to determine that ?
Line 8 e Capital gain (Included in Line 8 b)
Does it mean any amount above tax free is capital gain ?
Line 9 How did you determine the amounts in line 7 & 8
What document should be referenced here ?
If Form 1040 Schedule 1 Other Income is used, how to reflect the tax free amount ?
#37
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Re: Pensions from UK question - US Tax Form
I got a few (4) UK pensions consolidated into a single defined benefits SIPP. Never taken any distribution as yet. Just plan on taking.
I assume there is a tax free amount. Don’t see how to reflect that in Form 4852 or Form 1040 Schedule 1.
So many people have experience here, just wonder if you could share here.
On Form 4852
Line 8 b Taxable amount
How to determine that ?
Line 8 e Capital gain (Included in Line 8 b)
Does it mean any amount above tax free is capital gain ?
Line 9 How did you determine the amounts in line 7 & 8
What document should be referenced here ?
If Form 1040 Schedule 1 Other Income is used, how to reflect the tax free amount ?
I assume there is a tax free amount. Don’t see how to reflect that in Form 4852 or Form 1040 Schedule 1.
So many people have experience here, just wonder if you could share here.
On Form 4852
Line 8 b Taxable amount
How to determine that ?
Line 8 e Capital gain (Included in Line 8 b)
Does it mean any amount above tax free is capital gain ?
Line 9 How did you determine the amounts in line 7 & 8
What document should be referenced here ?
If Form 1040 Schedule 1 Other Income is used, how to reflect the tax free amount ?
Just like a traditional IRA in the USA where only before-tax money has been saved then I would expect all distributions to be fully taxable. (There are IRAs with a combination of before and after tax contributions and then distributions are partly tax free, in which case form 8606 keeps track of the tax free basis from year to year - been there and still doing that).
#38
Just Joined
Joined: Nov 2013
Location: Illinois
Posts: 7
Re: Pensions from UK question - US Tax Form
SIPP is defined contribution. Thanks durham_lad for the correction.
There is a 25% tax free portion documented in UK SIPP.
Try to understand how to reflect it in Form 4852 or Form 1040 Schedule 1.
There is a 25% tax free portion documented in UK SIPP.
Try to understand how to reflect it in Form 4852 or Form 1040 Schedule 1.
#39
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Posts: 4,129
Re: Pensions from UK question - US Tax Form
here is a recent discussion on the issue
Refund on US Tax paid on tax free uk pension lump sum?
Last edited by durham_lad; Feb 25th 2021 at 12:34 pm.
#40
Re: Pensions from UK question - US Tax Form
Has anyone managed to e-file IRS Form 4852 (Substitute 1099-R) yet with their 2020 return?
I'm still seeing the red DO NOT FILE warnings on the 4 forms I've saved for filing in Turbo Tax Deluxe (see screen shot above in my 1st post).
(That, despite the fact that TT indicates that form is ready for filing by mail )
Even more to the point, on their "Federal Individual Form Availability" page, (https://care-cdn.prodsupportsite.a.i...ndividual.html ) TT seem to indicate pretty decisively that the 4852 is and will remain "UNSUPPORTED" for efile this year.
Has anyone found otherwise?
I'm still seeing the red DO NOT FILE warnings on the 4 forms I've saved for filing in Turbo Tax Deluxe (see screen shot above in my 1st post).
(That, despite the fact that TT indicates that form is ready for filing by mail )
Even more to the point, on their "Federal Individual Form Availability" page, (https://care-cdn.prodsupportsite.a.i...ndividual.html ) TT seem to indicate pretty decisively that the 4852 is and will remain "UNSUPPORTED" for efile this year.
Has anyone found otherwise?
#41
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Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,129
Re: Pensions from UK question - US Tax Form
Has anyone managed to e-file IRS Form 4852 (Substitute 1099-R) yet with their 2020 return?
I'm still seeing the red DO NOT FILE warnings on the 4 forms I've saved for filing in Turbo Tax Deluxe (see screen shot above in my 1st post).
(That, despite the fact that TT indicates that form is ready for filing by mail )
Even more to the point, on their "Federal Individual Form Availability" page, (https://care-cdn.prodsupportsite.a.i...ndividual.html ) TT seem to indicate pretty decisively that the 4852 is and will remain "UNSUPPORTED" for efile this year.
Has anyone found otherwise?
I'm still seeing the red DO NOT FILE warnings on the 4 forms I've saved for filing in Turbo Tax Deluxe (see screen shot above in my 1st post).
(That, despite the fact that TT indicates that form is ready for filing by mail )
Even more to the point, on their "Federal Individual Form Availability" page, (https://care-cdn.prodsupportsite.a.i...ndividual.html ) TT seem to indicate pretty decisively that the 4852 is and will remain "UNSUPPORTED" for efile this year.
Has anyone found otherwise?
#42
Re: Pensions from UK question - US Tax Form
If you switch to using the "Other Income" form how would you either separate (or combine ?) the individual income sources you've been reporting on the individual 4852s?
I have a UK State income Pension and 3 separate UK Annuities.
As mentioned in an earlier post - I wish to remain as consistent as possible with regard to prior filings. Reporting this way would be a major change.
#43
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Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,129
Re: Pensions from UK question - US Tax Form
I believe, like me, you also have been filing several 4852s.
If you switch to using the "Other Income" form how would you either separate (or combine ?) the individual income sources you've been reporting on the individual 4852s?
I have a UK State income Pension and 3 separate UK Annuities.
As mentioned in an earlier post - I wish to remain as consistent as possible with regard to prior filings. Reporting this way would be a major change.
If you switch to using the "Other Income" form how would you either separate (or combine ?) the individual income sources you've been reporting on the individual 4852s?
I have a UK State income Pension and 3 separate UK Annuities.
As mentioned in an earlier post - I wish to remain as consistent as possible with regard to prior filings. Reporting this way would be a major change.
In TT under "Miscellaneous Income" you can enter "Other reportable income", and then add a line for each UK pension. I've just tried it and it seems to work well. For each line I put the exact name of the pension provider as I did in the 4852. If the IRS did question the change it would be easily explainable.
#44
Re: Pensions from UK question - US Tax Form
I believe, like me, you also have been filing several 4852s.
If you switch to using the "Other Income" form how would you either separate (or combine ?) the individual income sources you've been reporting on the individual 4852s?
I have a UK State income Pension and 3 separate UK Annuities.
As mentioned in an earlier post - I wish to remain as consistent as possible with regard to prior filings. Reporting this way would be a major change.
If you switch to using the "Other Income" form how would you either separate (or combine ?) the individual income sources you've been reporting on the individual 4852s?
I have a UK State income Pension and 3 separate UK Annuities.
As mentioned in an earlier post - I wish to remain as consistent as possible with regard to prior filings. Reporting this way would be a major change.
Last edited by lansbury; Feb 25th 2021 at 4:38 pm.
#45
Re: Pensions from UK question - US Tax Form
Between Mrs L and I we have 5 pensions from the UK. 2 employer and 2 State (one each) and I have an annuity. In TT, which I have already e-filed for this year, I just show the total for each of us, which on schedule one becomes one total amount with the explanation "Pensions from the United Kingdom". Been doing it that way since you got me started with TT, and not had any problems.
It was back in the day of CDs