KarenJ2
Expert Alumni

Retirement tax questions

See updated answer below beginning with ADD another line 14....

 

TurboTax recognizes the codes Tier 1 and Tier 2 in box 14...

TurboTax recognizes the codes Tier 1 and Tier 2 in box 14 of your W-2, so you only need to choose these codes from the drop-down menu.   They are near the bottom of the list.  Look for ''Railroad Retirement Tier 1 Tax'' and below that is ''Railroad Retirement Tier 2 tax''.  TurboTax will properly report and apply these amounts on your tax return.  

 

 

ADD another line 14 entry with the same amount as in Box 1 Wages. Select code - "Railroad Compensation." Code RR

You received the error message because the amount on Line 14 is greater than allowed, but entering the above information will allow your railroad income to be properly reported.

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