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I have dual citizenship. As a US citizen, living and working in the US, how would I treat my retirement income I receive from a foreign country? Is it taxable?

I live and work in the US. I receive a $300 retirement from a foreign country. How would I treat this income? Is it all subject to the US tax?

Best answer by KittyM

Yes, your foreign pension is taxable to the US. To enter your foreign pension on your return, follow the instructions below:

Choose the Federal return and the Wages & Income tab.
Scroll down to Less Common Income and Show more.
Choose Miscellaneous Income, 1099-A, 1099-C.
Choose Other Reportable Income and say Yes.
Even though the screen says "Do not enter income reported on Form 1099-MISC", this is where you will enter the description "Foreign Pension" the amount you received, and who received it, if necessary.

Employee

Yes, your foreign pension is taxable to the US. To enter your foreign pension on your return, follow the instructions below:

Choose the Federal return and the Wages & Income tab.
Scroll down to Less Common Income and Show more.
Choose Miscellaneous Income, 1099-A, 1099-C.
Choose Other Reportable Income and say Yes.
Even though the screen says "Do not enter income reported on Form 1099-MISC", this is where you will enter the description "Foreign Pension" the amount you received, and who received it, if necessary.