It is taxable unless it went into a Traditional IRA account with the NFCU.
If it is regular savings or money market account outside of an IRA it is taxable income.
To enter pension and annuity Payments (1099-R)
- Click on Federal Taxes
- Click on Wages and Income
- Click on I'll choose what I work on (if shown)
- Scroll down to Retirement Plans and Social Security
- On IRA, 401(k), Pension Plan Withdrawals (1099-R),
click the start or update button
- Then carefully answer the questions that follow.
