Retirement tax questions

Assuming that this is the first year that you are receiving this pension, follow these steps to calculate the taxable amount in TurboTax for Windows:

1. Under Retirement Plans and Social Security, Start IRA, 401(k), Pension Plan Withdrawals (1099-R)
2. On Did you receive any 1099-R forms? select Yes.
3. On Let Us Enter Your 1099-R select I’ll type it in myself.
4. On Tell Us Which 1099-R You Have, select CSA-1099-R, Civil Service annuity.
5. The Confirm Payer Information screen will be pre-populated.
6. ON Enter Annuity Information, enter your CSA-1099-R information as it appears on your form. Note that box 9b will show your Total Employee Contributions from the time you began contributing to  your plan.
7. Continue through the screens, making sure to say that you did something else with the money, and that you received periodic payments from OPM.
8. Say that you need to figure out how much of this money I took out is taxable, then enter the Annuity Start Date, the Plan Cost (usually just your contributions to the plan from box 9b, but make sure to read the Learn More section to be sure)
9. On Tell Us About Your Joint Annuity, select No, this annuity covers only me.
10. Enter your age as of the date the annuity (pension) started, and indicate if you are retirement age or not.
11. The taxable portion of your retirement income will be calculated using the Simplified Method . Continue through the section.
12. As previously explained, the taxable portion of your retirement will show on line 5b of your Form 1040.

If this isn’t the first year for the pension, you will need to enter the appropriate information as you go through this section.