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Are you saying that you have one 1099-R form that is reporting on a distribution from a pension AND from an IRA? That's not possible. So do you have two 1099-R forms, one for each?
Your pension and IRA distributions may or may not be taxed on the state level, so there may be no withholding - or it may be that you simply didn't ask them to do any state withholding. Tell us the state, and we can check.
Both pension and traditional IRA distributions are generally taxable on the federal level.
"the system puts everything as a reduct" - what does this mean? Are you seeing that the pension and IRA amounts are shown as a subtraction to state income? That may be correct, again, depending on your state.
So, let us know if you have two 1099-Rs and what state you are referring to.
Also tell us what the source of the pension is: military pension, government pension, education system pension, private pension, and so on.
only one 1099r
michigan
detroit
I have a pension from the city
while working I contributed a percent of my wages to the retirement fund
the city added a percent
Was told that it would be taxable
thanks
My mistake
an annuity not an ira
You would enter the annuity as received on Form 1099-R. There will be questions following the initial entry to capture your details. What amount has been calculated as taxable will appear in Box 2a.
If this number is in error, then Form 1099-R should be corrected. The IRS receives a copy of government issued forms. Any adjustments must be done by the administrator of the account before the recipient reports them on Form 1040.
For more information, see: When to Use Tax Form 1099-R: Distributions From Pensions, Annuities, Retirement, etc. - TurboTax Tax...
Thanks for the reply. Box 2a has taxable for the full amount
the state of Michigan does not tax pensions of government employee
the annuity is taxable
I made contribution and the city contributed
trying to have turbo tax distinguish between the two amounts for the state taxes.
In the MI program, there is a screen that says Where Did Your Retirement Income Come From?
For the government pension:
For the annuity:
The state taxable amount should be the correct amount having already taken your contributions into account.
The state is michigan
not an ira
its classified as annuitie on my 1099r
the pension office charges federal on the whole amount.
pension part is not taxed by Michigan on government employee (city) but the rest of the income is
thanks for the info
took me a while where to find your answer
currently i enter the information on the federal side
when done it creates the state side, whit the answer as to how much i owe or refund
how do i get into the state side where i can enter the information or make changes
thank you for your assistance
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