Reporting Foreign Pension Income in ProSeries

[Taxes-by-Rocky]

Does anyone know a way to enter a distribution from a foreign pension plan into ProSeries, report the amount properly on Line 5 of the Form 1040 as per the Instructions, and still be able to efile?  The payor does not have a US EIN.

I was trying to avoid the "Other Income" line.

Thank you in advance.

P.S.  Same question with tax due as a result of a Form 8987 filing.  Currently overwriting "ECR" or "8863" for Line 16, Box 3 on Form 1040....

[Terry53029]

It all depends what the tax treaty says from each country, and if it was government or private. 

[Taxes-by-Rocky]

Hi Terry,

Thanks for the quick reply.  Been down the road on the tax treatment.  Now just trying to figure out the best way to report it in ProSeries (i.e., if it is possible to report it in accordance with the IRS Instructions to Form 1040).  Didn't appear to be possible but I figured I'd ask.  There are a number of plans.

[TaxGuyBill]

Someone recently said you can just report it on the 1099-R worksheet (without an EIN) and disable error-checking when you e-file the return.

[Terry53029]

You would do it different if it were from a government similar to our SS. Then you would just report it on the SSA1099 worksheet. All depends where it is from, and what kind of pension. Here is a link from IRS.

https://www.irs.gov/businesses/the-taxation-of-foreign-pension-and-annuity-distributions

[MICHAELMARS]

Report it on form 4852

[athaureaux6]

Hi I has heard that you could report it on a Line 5, checking the non-standard 1099-R box on the right, and to deal the EIN number issue, use 9s and change of the numbers for electronic transmission. I think it is the best way to get the foreign pension income transferred to the correct line in the state tax return (at least in NJ the NJ Division of Taxation states that a foreign pension is a pension and will be treated with the same rules and exclusions). Just be aware that if it is input in other place and the state taxes pension income, it might not be transferred to the right place. That is just my opinion and my input from that chat.  

[Taxes-by-Rocky]

Thanks all.  Non-standard with 99-9999999 / no error checking might work best.  Appreciate it.