Retirement tax questions

If you receive Social Security benefits you will enter a SSA1099 ---this will be mailed to you by Social Security in January.  The SSA1099 will show how much you paid for Medicare from your benefits.  You enter it from the SSA1099 and the information flows to medical expenses automatically so you do not have to enter it twice.   If you are paying any Medicare Part D etc out of pocket or if you pay Medicare itself out of pocket instead of from your SS, then you can enter it as a medical expense if you are itemizing deductions.

 

If you are receiving some other retirement income like a pension, or money from an IRA or 401k , you will get a 1099R that must be entered.

 

Sometimes a 1099R is mailed to you; sometimes you either need to get the 1099R from the plan's website or you might be able to import it into the software.

 

 

 Go to Federal> Wages & Income>>Retirement Plans and Social Security  (SSA1099 and 1099RRB) to enter your SSA1099.

 

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**