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kajun55
Returning Member

Additional questions being asked about 1099-R pension not asked in previous years.

I have been receiving distributions from a pension plane for a couple years.  However when I enter the 1099-r information it is now asking what the total annuity amount was, when did payments start and several other questions not asked in previous years.  Also TurboTax will not let me download the 1099-R from the payer as it did previously.

3 Replies
dmertz
Level 15

Additional questions being asked about 1099-R pension not asked in previous years.

TurboTax asks these questions if you told TurboTax to use the Simplified Method to calculate a taxable amount different than the taxable amount reported in box 2a of the Form 1099-R.  If you made no after-tax investment in the pension plan or the amount shown in box 2a is correct, you should not be using the Simplified Method to calculate a different taxable amount.  You might need to delete and reenter the Form 1099-R.

kajun55
Returning Member

Additional questions being asked about 1099-R pension not asked in previous years.

Box 2a is blank ant the box for "taxable amount not determined" is marked.  

dmertz
Level 15

Additional questions being asked about 1099-R pension not asked in previous years.

In that case:

 

If you made no after-tax investment in the plan, the entire distribution is taxable and you should not be using the Simplified Method.

 

If you made an after-tax investment in the plan, you need to use the Simplified Method to calculate the taxable amount unless you've already recovered all of your investment in the plan through past pension payments.

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