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New Member
posted Feb 3, 2022 11:12:22 AM

How to file with pension income and earned income?

 I retired from TX TRS and started to receive pension income.  I continued working earning income  from other jobs.  How does this affect filing taxes.  

 

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2 Replies
Level 15
Feb 3, 2022 11:17:28 AM

Enter ALL of your income on the same tax return.   Enter your W-2 in Federal>Wages & Income

 

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

Level 15
Feb 3, 2022 11:24:37 AM

You will report your pension income on 1099-R and your self employment (assuming that you are self employed) income on Sch C. Your pension and net self employment income are taxed at your marginal tax rate but you will also pay self employment tax on your net self employment income.