BillM223
Employee Tax Expert

Retirement tax questions

Are you saying that you have one 1099-R form that is reporting on a distribution from a pension AND from an IRA? That's not possible. So do you have two 1099-R forms, one for each?

 

Your pension and IRA distributions may or may not be taxed on the state level, so there may be no withholding - or it may be that you simply didn't ask them to do any state withholding. Tell us the state, and we can check.

 

Both pension and traditional IRA distributions are generally taxable on the federal level.

 

"the system puts everything as a reduct" - what does this mean? Are you seeing that the pension and IRA amounts are shown as a subtraction to state income? That may be correct, again, depending on your state.

 

So, let us know if you have two 1099-Rs and what state you are referring to.

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