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Retirement tax questions
Yes, if your 1099-R has no amount in Box 2a, this will trigger the Simplified Method questions in TurboTax, where you indicate your basis in your pension.
Also, the Code in Box 7 of your 1099-R should change from 4 to 7 to be considered retirement income, rather than wages.
They are both taxed at the same rate.
Click this link for more info on Reporting a Disability Annuity.
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‎February 11, 2022
12:25 PM