ColeenD3
Expert Alumni

Retirement tax questions

@JamesG1 answered your question in great depth.

 

"TurboTax Online will use the simplified method to determine the taxable portion for box 2a of your CSA 1099-R."

 

If you have sufficient information to use the simplified method, the program will calculate the nontaxable portion. If you do not, it is all taxable.

 

"You will need to know:

 

  • The amount of the employee contributions (should be in box 9b),
  • The date the annuity started,
  • The number of months that payments were received in 2021, 
  • The age of the recipient when the annuity started,
  • The age of other beneficiaries (if there are any), and 
  • Was the recipient under the retirement age for the plan."