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I am a Japanese and 65 years old. Soon I will start getting

Customer Question
Japanese pention which will be...
I am a Japanese and 65 years old. Soon I will start getting Japanese pention which will be $6000 in a year. For this mon ey how much shold I pay as a tax?

I am single and still working as a full time worker and will be working for another 5 years, I hope.
My yearly income is about $50000 now.

I will be happy if I can get an answer for this question.

Thank you very much.

Toshiko Tani
Submitted: 6 years ago.Category: Tax
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Answered in 5 minutes by:
6/1/2011
Tax Professional: Lev, Tax Advisor replied 6 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,300
Experience: Taxes, Immigration, Labor Relations
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LEV :

Hi Toshiko Tani and welcome to Just Answer!
Are you living in the US? Are you US citizen?

Customer:

I am a green card holder. i am not a US citizen.

Customer:

I will be back an hour later. I have to teach now. TOKO

LEV :

That is Ok - I am working on answer.

LEV :

According to US-Japan tax treaty -


Pensions paid by, or out of funds to which contributions are made by, Japan, its political subdivisions, or local authorities for services performed for Japan are exempt from U.S. income tax unless the recipient is a resident and citizen of the United States.
So as long as you will be a green card holder - that pension will not be taxable for you.
You will report that pension on your tax return - from 1040 line 16a - $6000; line 16b - zero - www.irs.gov/pub/irs-pdf/f1040.pdf .
However - if you will become naturalized US citizen - the pension from Japan will be included into your taxable income.

Customer:

I understand. thank you very much.

Customer:

I understand.

LEV :

I am glad to be helpful.
Please be sure you accept the answer. Experts are only credited if the answer is accepted.
If you need any help or clarification - be sure to came back and I will post it for you.

Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,300
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