Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Pensions from UK question - US Tax Form

Pensions from UK question - US Tax Form

Old Feb 3rd 2021, 12:11 am
  #1  
Forum Regular
Thread Starter
 
Joined: Sep 2013
Posts: 112
iceflow is an unknown quantity at this point
Default Pensions from UK question - US Tax Form

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
iceflow is offline  
Old Feb 3rd 2021, 3:09 am
  #2  
Deep in the woods of CT
 
Nutmegger's Avatar
 
Joined: Feb 2010
Posts: 6,204
Nutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond reputeNutmegger has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

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!
Nutmegger is offline  
Old Feb 3rd 2021, 8:27 am
  #3  
BE Forum Addict
 
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 2,851
durham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

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.
durham_lad is offline  
Old Feb 3rd 2021, 12:25 pm
  #4  
BE Forum Addict
 
Joined: Aug 2013
Location: Athens GA
Posts: 1,941
MidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond reputeMidAtlantic has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by Nutmegger View Post
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!
I do the same.
MidAtlantic is offline  
Old Feb 3rd 2021, 2:06 pm
  #5  
Forum Regular
Thread Starter
 
Joined: Sep 2013
Posts: 112
iceflow is an unknown quantity at this point
Default Re: Pensions from UK question - US Tax Form

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

Thanks
iceflow is offline  
Old Feb 3rd 2021, 9:32 pm
  #6  
 
lansbury's Avatar
 
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,667
lansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

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.

Last edited by lansbury; Feb 3rd 2021 at 9:36 pm.
lansbury is offline  
Old Feb 3rd 2021, 9:37 pm
  #7  
Just Joined
 
Joined: Apr 2012
Posts: 22
retman is an unknown quantity at this point
Default Re: Pensions from UK question - US Tax Form

According to 1040 tax Instructions: Report distributions from foreign pension plans on lines 5a and 5b
retman is offline  
Old Feb 3rd 2021, 10:02 pm
  #8  
BE Forum Addict
 
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 2,851
durham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by lansbury View Post
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.
I always put 99-1234567 and in section 10 simply state that the provider is a UK company
durham_lad is offline  
Old Feb 4th 2021, 3:31 am
  #9  
Forum Regular
 
Joined: Jul 2018
Location: California
Posts: 180
vespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Can a substitute for a 1099-R be e-filed or does it have to be mailed?
vespucci is offline  
Old Feb 4th 2021, 6:30 am
  #10  
 
lansbury's Avatar
 
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,667
lansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by durham_lad View Post
I always put 99-1234567 and in section 10 simply state that the provider is a UK company
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.
lansbury is offline  
Old Feb 4th 2021, 9:49 am
  #11  
BE Forum Addict
 
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 2,851
durham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by vespucci View Post
Can a substitute for a 1099-R be e-filed or does it have to be mailed?
Yes. I use Turbotax but I assume all tax software will efile the substitute 1099R
durham_lad is offline  
Old Feb 4th 2021, 11:38 am
  #12  
BE Forum Addict
 
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 2,851
durham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by lansbury View Post
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.
5 foreign Pensions. You’re well set!!
durham_lad is offline  
Old Feb 4th 2021, 6:42 pm
  #13  
Forum Regular
 
Joined: Jul 2018
Location: California
Posts: 180
vespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond reputevespucci has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by durham_lad View Post
Yes. I use Turbotax but I assume all tax software will efile the substitute 1099R
Thanks.
vespucci is offline  
Old Feb 4th 2021, 6:58 pm
  #14  
 
lansbury's Avatar
 
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,667
lansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by durham_lad View Post
5 foreign Pensions. You’re well set!!
Mrs L and I are extremely grateful to be that fortunate.
lansbury is offline  
Old Feb 4th 2021, 8:32 pm
  #15  
 
lansbury's Avatar
 
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,667
lansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond repute
Default Re: Pensions from UK question - US Tax Form

Originally Posted by durham_lad View Post
I always put 99-1234567 and in section 10 simply state that the provider is a UK company
Originally Posted by lansbury View Post
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.
Having checked the 1040 instructions I decided to follow your advice and amend my TT return. (Not filed yet).


Last edited by lansbury; Feb 4th 2021 at 8:52 pm.
lansbury is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.