Question

Form 1116

Forum|Forum|1 year ago
April 1, 2025
1 reply
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Trying to figure out how to do inputs for Form 1116. I am US citizen who has a Canadian pension that I turned on income from in 2024. The pension company sent me a NR4 form with my Gross Income amount (distribution) and Canadian taxes withheld. The same pension company sent me a 1099R from (John Hancock Life Life Ins Co USA, this us USA counterpart) for the US equivalent amount in USA dollars with no taxes on the 1099R. I imputed the 1099R in the tax software. While looking at all the other posts on this over the years, it says to go to "Deductions & Credits: Estimates and Other Taxes Paid: Foreign Taxes." to input your foreign taxes paid. After answering the questions, it seems when I do this, the only option it gives me is to is to add foreign tax I paid on a 1099 DIV. Not sure where to add this paid tax amount as taxes were not 1099 DIV aand there seems to be no other option. My income was so low in 2024, I don't think it will matter much but I think I can carry it forward to use in the future? I think I understand how to input it if I did not receive the 1099R. Any help appreciated. Thx!

T

ThomasM125

In the foreign taxes section, on the screen that says No Other Income or Expenses, you need to indicate that none of the options listed there apply to you:

Then you'll see an option to enter your foreign pension income on the page that says Other Gross Income - (name of country) and later in that section you'll see where you can enter your foreign taxes paid: