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Norwegian Old Age Pension
4/14/08 7:50 AM
Total Views: 823
Total Views: 823
Where is the Norwegian Old Age Pension reported on a US 1040, and is it taxable?
All Replies: Answers (3)
Rating 0
Answer
5/8/08 4:08 PM
If your client is a US citizen the Norwegian pension is taxable.Put the info on a 1099-R worksheet even though you don't have an actual 1099-R. You probably won't be able to e-file since you won't have an employer ID # to put in the 1099-R worksheet. Don't forget to convert the Norwegian currency into US dollars.
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Answer
7/11/08 10:49 AM
And if the TP pays tax to Norway then claim a foreign tax credit.
Rating - 1
Answer
6/7/09 1:48 PM
if client is US Citizen then it would be taxable income that has to be reported in US dollars
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