I'm retired and drawing a pension from Iowa Public Employees Retirement System (IPERS). My 1099-R box 5 shows $675 in employeee contributions. Is that deductable?
The amount shown in box 5 of the Form 1099-R provided by the payer is the amount of the distribution that is tax free. Always best to enter the 1099-R exactly as it appears. then answer all the questions.
