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Portion of Pension That is Taxable
I am trying to understand how the portion of my pension is taxable. Turbotax calculates it as less than the distribution amount and I would like to understand how it is calculated. I've looked at publication 575, "Pension and Annuity Income" but the worksheet at the end of the publication seems to be just for annuities. It doesn't make sense to use it for pensions. I have a qualified pension plan and the full distribution amount isn't taxed. How is the taxable portion calculated. I didn't see any other info on this in this website's forum, etc. other thanall or a portion of my pension may be taxed which I already know. Thanks
‎April 12, 2023
6:59 PM