Hi I am working on the PA state return and I am having trouble classifying assets with the available choices in the pulldown menu for "What kind of retirement income do you have from Pennsylvania?". What state type code do I choose?
Asset 1:
1099R from Bankers Life that shows payout of whole asset of my father;s (over 60) part of Medicaid paydown) to my mother (over 60) and deposited in her bank account. Described by fund manager as non-qualified (non) IRA annuity. Box 1 $27,000 Box 2a $1130 Box 5 $26000. Total distribution checked. Box 7 (7D) Box 15 has info. Box 16 $1130.
I was told the 1130 was taxable.
Asset 2:
1099R from Bankers Life. Qualified IRA of my dad (over 60) which was then rolled over (under 60 day rule) with another company to create an annuity for my mom (a form 5498 was generated by the new company with the IRS). Box 1 and 2A both have 90,000. Taxable amount not determined is checked. Total distribution is checked. Box 7 has code 7. IRA box is checked. Box 15 has info Box 16 has 90,000.
Asset 3:
1099R from Elco Mutual Life and Annuity. The money from the previous asset is now here being paid out monthly to my mother. qualified ...but ..elder care lawyer says monthly payments are taxable. Box 1 13,000 Box 2a: 13,000 Box 2B: taxable amount not determined checked DIST code 7 IRA box checked. no info in box 15 and 16.
So which things in the pull down menu for retirement assets on the PIT best match these?
Thanks
