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Retirement tax questions
You should be able to tell by looking at your tax return.
If you have entered the Form RRB-1099-R as it is shown and your distribution code is a 7, then Line 5a on your Form 1040 should show the total amount of pension and annuity payments you received during the tax year, and line 5b should show the amount of line 5a that is taxable (using the simplified method).
The simplified method is used to calculate the taxable portion your retirement payments. The simplified method is simpler and more beneficial than using the ""General Rule". You are required to use the general rule in some instances, such as for a commercial annuity you bought yourself.
Here is a link to the Simplified Method Worksheet for pensions and annuities from the IRS.
If you are using TurboTax Desktop, Premier or higher you can find the Simplified Method Worksheet in your TurboTax program when you switch to forms mode. If you are using TurboTax Online you should be able to see the worksheet when you print your tax return.
The Instructions to Form 1040 for Lines 5a and 5b give a pretty good explanation of the Simplified Method, to see this click here.
Please feel free to come back to TurboTax Community with additional information or questions or click here for help in contacting Turbo Tax Support.
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