MarilynG1
Expert Alumni

After you file

It's possible that your pension distributions were not taxable in 2023.  Without seeing your 1099-R and return, it would be difficult to know.  Was there a taxable amount in Box 2a of your 1099-R?

 

If you contributed after-tax dollars to your pension or annuity, your pension payments are partially taxable. You won't pay tax on the part of the payment that represents a return of the after-tax amount you paid. This amount is your investment in the contract and includes the amounts your employer contributed that were taxable to you when contributed.  TurboTax will figure all of this out for you when you enter your 1099-R and answer the follow-up questions in the retirement income interview.  

 

You can open your 2023 return to Amend and re-enter your 1099-R (paying close attention to the follow-up questions) to see if your return changes.  If so, you can file your amended return and then transfer this info to your 2024 return.

 

Here's more info on How to Enter Form 1099-R.

 

TurboTax guarantees their calculations, so if you do receive an IRS letter, here's more info on What to Do if You Get an IRS Notice.

 

Also, here's how to Contact TurboTax Support

 

 

 

 

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