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A form 1099-R with a distribution code 7 indicates that your pension income was classified as a normal taxable distribution. Most pensions are 100% taxable. The only time retirement income isn't taxable is when a taxpayer puts his or her own after-tax money into growing the funds. If you have an employer-provided pension that was funded with pre-tax money, then it is taxable.
A form 1099-R with a distribution code 7 indicates that your pension income was classified as a normal taxable distribution. Most pensions are 100% taxable. The only time retirement income isn't taxable is when a taxpayer puts his or her own after-tax money into growing the funds. If you have an employer-provided pension that was funded with pre-tax money, then it is taxable.
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