AmyC
Expert Alumni

Retirement tax questions

Your code 2 can throw the program when you are below retirement age. This worked for others in your situation.

 

Tell the federal it is a regular pension (you probably already did):

When you went through the federal entry screen of the  1099-R, it asked questions and commented that with code 2 there was no extra penalty. It asked if you were a safety officer, what did you do with the money - cashed it, any periodic payments, yes- regular payments from this retirement account, payment start year, 2020 or before selection, describe the taxable amount, yes, box 2a is taxable amount.

 

Tell the state it meets the service requirements: Move to MS return:   Proceed to the screen with the title Enter Any Other Income or Losses. Enter Service requirement pension adjustment and the amount of the distribution as a negative number. 

 

@scottg29

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