Hi everyone
I have an issue that is bothering me, and I can't find a solution... so here's the situation:
- I had a 2nd pillar pension fund in Switzerland, that I have cashed out, while already living in the US. The source tax (Quellensteuer) got deducted by the Swiss canton.
- Now I am working on my tax return, and after researching this topic I learned that I was supposed to add the employer payments of that 2nd pillar as income on my tax return in the past (which I didn't do).
- I had my Greencard for about 3 years before I moved to the US, and therefore 3 years of employer contributions that were not reported as income. - I assume the that the money that got paid into the 2nd pillar before I reached a "taxable" status in the US has not be taxed by the IRS.
My question is:
- How should I add this on my tax return now? Just add the part the employer had paid over these 3 years as income, and have that taxed?
- Or is there any other way to address this issue?
Any help and hints are greatly appreciated!
I have an issue that is bothering me, and I can't find a solution... so here's the situation:
- I had a 2nd pillar pension fund in Switzerland, that I have cashed out, while already living in the US. The source tax (Quellensteuer) got deducted by the Swiss canton.
- Now I am working on my tax return, and after researching this topic I learned that I was supposed to add the employer payments of that 2nd pillar as income on my tax return in the past (which I didn't do).
- I had my Greencard for about 3 years before I moved to the US, and therefore 3 years of employer contributions that were not reported as income. - I assume the that the money that got paid into the 2nd pillar before I reached a "taxable" status in the US has not be taxed by the IRS.
My question is:
- How should I add this on my tax return now? Just add the part the employer had paid over these 3 years as income, and have that taxed?
- Or is there any other way to address this issue?
Any help and hints are greatly appreciated!