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Retirement tax questions
Some pensions contain both an employer and employee contribution (basis).
The employee contribution portion of any distribution would be non-taxable.
Is there an amount in Box 5 of your 1099-R, or another notation, that may indicate to TurboTax that you have a basis in your pension?
If you can clarify, we'll try to help.
Here's more info from the IRS on Pensions and Annuities.
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March 18, 2024
2:10 PM