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Level 1
April 21, 2021
Question

1099R

  • April 21, 2021
  • 1 reply
  • 1 view

Received a city pension Box1 has the correct gross distribution, Box2a is blank, Box 2b is checked, Box 4 has an amount, Box 7 has the number 7 and the ira/sep/simple Box is not checked. TT's worksheet indicates all the distribution except $726 is taxable. Is that possible?  

    1 reply

    Critter-3
    Level 15
    April 21, 2021

    Yes it is ... the pension is 100% taxable UNLESS  you know of a reason for it to not be taxable.  If you leave box 2a BLANK and answer all the questions on the screens in that section the program will figure out the taxable portion based on the answer to those questions.  

    Level 2
    April 23, 2021

    Thank you!