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celjo
Returning Member

Can I delete pension distribution in the wage box to the pension box

 
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2 Replies

Can I delete pension distribution in the wage box to the pension box

Wait. Per the IRS,  Line 1 Wages include disability pensions shown on  Form 1099-R , if you haven’t reached the
minimum retirement age set by your employer.   If so, leave it there.

 

If however, you just typed the 1099-R in the wrong place, delete it from the W-2 section, and enter it here:

Federal > Wages and Income > Retirement.

Can I delete pension distribution in the wage box to the pension box

If there is a code 3 in box 7 on yiur 1099-R form AND you are under the minimum age that you could have retired if you were still working for the company, then the distribution goes on line 1 as wages.

 

 

The tax is the same as it would be if it were on line 5, but it is an advantage to you to be on line 1 - it can qualify you for the EIC, or allow IRA contributions that would not be allowed if on line 5.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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