The pension income reported in box 2a of the form is entered on the tax return as ordinary income and added to the other income being reported on the tax return. The federal taxes withheld (if any) reported in box 4 of the form are entered on the tax return as a tax payment.
If your total tax payments are greater then your total tax liability you will get a tax refund for the overpayment.
If your total tax payments are less than your total tax liability you will have taxes owed.
If using the TurboTax desktop CD/Download editions installed on a personal computer, click on Forms.
When in Forms mode review the Form 1040 line items to see why you have taxes owed.
