pbgc pension federal taxable

Forum|Forum|3 years ago
February 8, 2023
12 replies
36 views

Why does my pbgc pension shows in TT as not taxable in 2021 on 1040 line 5a buttnow as taxable in 2022 on form 1040 line 5b?

JamesG1

Level 15

The pension was reported on the 2021 Federal 1040 tax return only on line 5a. This tells me that the pension was reported on IRS Form 1099-R and only reported a value in box 1.

The pension is reported on the 2022 Federal 1040 tax return on line 5b because there is a value in box 1 and box 2a.

Is that what you are seeing on the paperwork?

[Edited 2/8/2023 | 2:00 pm PST]

@lynbou1

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lynbou1Author

Level 2

HI, There's only a value in box 1 nothing in box 2.

pbgc pension federal taxable

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