05-04-2006, 03:05 AM
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 Re: Foreign Resident Receiving Foreign Pension Larry Israel wrote: - quote - > A foreign pension, for a US citizen residing in that
I'm not aware of any adjustment required for foreign taxes> country, is partly taxable and partly return of cost for the > recipient, as far as US taxes are concerned. The foreign > government, however, taxes the entire amount. > Now for the question. When filling out a Form 1116, foreign > tax credit, should the entire foreign tax be listed, or only > the relative amount for the portion taxable in the US? > return of cost and partly taxable. The foreign gov paid on a pension. You report the full amount of tax paid. You do however, only report as foreign source income the amount of the pension that is taxable by the U.S. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
05-03-2006, 05:45 AM
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| Foreign Resident Receiving Foreign Pension A foreign pension, for a US citizen residing in that country, is partly taxable and partly return of cost for the recipient, as far as US taxes are concerned. The foreign government, however, taxes the entire amount. Now for the question. When filling out a Form 1116, foreign tax credit, should the entire foreign tax be listed, or only the relative amount for the portion taxable in the US? return of cost and partly taxable. The foreign gov << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| foreign, pension, receiving, resident |
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