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March 20, 2022
Question

Is my pension (retirement/social security money) I received from foreign country (KAZAKHSTAN) taxable (I mean is considered as income and have to declare)

  • March 20, 2022
  • 1 reply
  • 0 views

Hi!

Here is my situation.

In 2015 I moved to the US from KAZAKHSTAN, regarding Kazakhstan laws I can get/receive all my pension  (retirement/social security) money only if I became a citizen of another country. In 2021 I became a US citizen and lost Kazakhstan citizenship. The same year I received my retirement money in US dollar equivalent as an international wire transfer from Kazakhstan to the US bank account in the amount of more than $10000 as a lump sum.  I paid 10% of taxes in Kazakhstan as income tax. I'm still working in the US paying my taxes and did not reach pension age.

Now my questions: should I file that money as income if yes what form to use?

 

Thanks

P/S: from 2015 I'm using TurboTax!
 

    1 reply

    March 20, 2022

    Yes, as a US Citizen (or resident alien) 100% of your worldwide income is subject to taxation, and must be reported on your tax return.

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