ErnieS0
Expert Alumni

Retirement tax questions

If you're sure your pension is 100% taxable (or want to report it as such), the easiest solution is to put the Box 1 amount in Box 2a. Or you can tell TurboTax "No, I didn't get regular payments from this retirement account", even if you did.

 

The IRS won't question if you report 100% of your pension payments as taxable.

 

Pension administrators will generally not say Taxable amount not determined, unless there is a possible adjustment. Adjustments are not mandatory. You always have the option of reporting 100% of your pension as taxable, though you may end up paying more than your fair share of tax.

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