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Level 2
posted Jan 30, 2026 10:59:44 AM

basis

when entering my 1099 R in state taxes, with money received from PBGC, how do I calculate the cost basis?

0 1 770
1 Replies
Employee Tax Expert
Jan 30, 2026 3:26:30 PM

Your 1099-R will have your cost basis for this year's distribution in box 5. The box 5 amount is your tax free portion for TY25. You may see your total contributions in box 9b. Some states will pull in from the federal amount.

Your box 1 minus box 5 = box 2 taxable portion.