1099R OPM - 2 annuities 1 form

[Matanuska Mark]

This is my first year with OPM's 1099R I have two annuities but one form. The 2 annuities are supposed to be handled separately since they not only have different contribution amounts but because one has a survival benefit and the other does not. Anyway, am I supposed to pretend that I received 2 1099Rs from them and wing-it filling out the second 1099R information in TurboTax? Any advice is appreciated.

[LindaS5247 · Accepted solution]

As long as both distributions are from qualified retirement plans (which they should be if this is from OPM it is likely a Governmental Agency and you are in CSRS or FERS) and the amounts are accurate, And both distributions would have a Code 7 in box 7 of the Form 1099-R (normal distribution), they will be entered the same and go on the same line of your 1040.  So entering the information as shown your 1099-R issued by OPM, as shown would have the same result.

I don't know the details of your pensions and how they are set up and what kind of plans they are.  In general, it is the IRS position that separate 1099-R's are issued for separate plans.  It may be the case that your retirement money is one plan but separate accounts (one that has survivor benefits and one that does not).

If you have concerns about any of the information on your Form 1099-R you should contact OPM and talk to a specialist there.

Click here for OPM contact information.

https://www.opm.gov/support/retirement/how-to/get-your-1099-r-tax-form/

[Matanuska Mark]

Thanks for your thoughts. I separated the two annuities from the one 1099R and created a second 1099R. Apparently this is a common practice with OPM. I was just nervous about doing it the first time. This way TurboTax can continue to carryover the two separate basis amounts from year to year.