MarilynG1
Expert Alumni

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.

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"