How much of a 1099R income is taxable, and for what period of time?

[rgtcoast]

how much of a 1099R Retirement income from OPM is taxable (and) for what period of time? (It has already been taxed pre retirement)

[Anita01]

It would be very unusual for all of an OPM pension to stem from aftertax contributions.  Are you saying you never received a deduction for any of your contributions?

[rgtcoast]

I retired in the 2004/2005 time frame, and a portion of my retirement, up until now, has had a portion of it (10% I believe) tax exempt, and the Turbo Tax program automatically calculated the 'taxable' amount of my retirement income. This year, not so.

[Anita01]

Is there an  amount in Line 5 of your 1099-R?

[Anita01]

or Box 5?

[Anita01]

Also is this a CSA-1099 and not a regular 1099-R?  Did you choose the correct type of 1099 when you started in the retirement 1099 section?

[rgtcoast]

It is a CSA-1099R. I'll have to go back into the program to check if I entered it correctly. Thank you.

[rgtcoast]

Relating to Box #5 on the 1099R, it lists a figure of $1608, which I assume is the amount that they with hold for MEDICARE part B Premiums. (12months @ $134/month)

[macuser_22]

Your per tax contribution should be in box 9b.    Insurance payments are in box 5.  

If box 2a is blank or says UNKNOWN then you must use the simplified method to calculate the taxable amount.  

[Anita01 · Accepted solution]

So, if the program has been calculating  a taxable amount for you in the past, that would be because, when you first began using the program for this distribution, you chose what is called the Simplified Method to calculate the taxable amount.  That calculation continues now for every year.I don't where you are in your entry, whether you just stopped after entering the form or continue through all the questions, but you need to do that.  Check to make sure you started with a CSA 1099, when asked if the taxable amount is correct on the form (after form entry) say No.

If you did not start this with a CSA-1099, I would delete this one altogether and start the 1099 over.  I'm assuming you transferred your data form last year.