Are military pensions considered simplified employee pensions; do we mark the IRA/SEP/SIMPLE box on the 1099R?
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No, military pensions are Not taxed like IRA/SEP/SIMPLE; do not mark box.
They are fully taxable to IRS, but some states have special rules.
No. Military pensions are not IRA accounts. Enter your 1099-R exactly how you see it; that box should not be marked.
No, military pensions are Not taxed like IRA/SEP/SIMPLE; do not mark box.
They are fully taxable to IRS, but some states have special rules.
No. Military pensions are not IRA accounts. Enter your 1099-R exactly how you see it; that box should not be marked.
I appreciate the quick replies. I have only been retired for a few years and have downloaded 1099Rs electronically. Unfortunately the electronic 1099Rs from the military site I access does not have an IRA/SEP/SIMPLE box listed which caused confusion since Turbo Tax asks if the box is marked; in my case, no box was on the downloaded form.
I appreciate the quick replies. I have only been retired for a few years and have downloaded 1099Rs electronically. Unfortunately the electronic 1099Rs from the military site I access does not have an IRA/SEP/SIMPLE box listed which caused confusion since Turbo Tax asks if the box is marked; in my case, no box was on the downloaded form.
That's pretty simple. If you don't have that box on your actual 1099R then obviously it is not checked.
https://www.irs.gov/pub/irs-pdf/f1099r_19.pdf
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