I have a Form DFAS-CL 7220/148 (REV 03-01) This is a Retiree Account Statement, this do not show me how to report it. what to do?

[DoninGA]

The RETIREE ACCOUNT STATEMENT is not entered on a federal tax return.

If you are receiving military retirement income then you should be receiving a Form 1099-R to report the income and taxes withheld.  You should have received the Form 1099-R in January.

Go to this DFAS website if you have not received the Form 1099-R - https://www.dfas.mil/retiredmilitary.html

To enter a form 1099-R -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen.  Click on Jump to 1099-R

[Negri]

I want to make some correction on the name of some name of my beneficiaries,what can I DO. 

[Negri]

No gracias ,es que algunos nombres no estan escrito correctamente. Es que despues pueden haver confusiones 

[LindaS5247 · Accepted solution]

The Form DFAS-CL 7220/148 isn't reported on your tax return.  If you want to make changes to your beneficiaries, you would do that through your Department of Defense personnel department.

This Form is your "Retiree Account Statement" (RAS) issued by DFAS that summarizes your pay, benefits and deductions. 

If you are receiving retirement benefits from this account they would be on a Form 1099-R.  You would enter your Form 1099-R into TurboTax to report your retirement income.

If you received a Form 1099-R you would enter it as follows:

Here's where to enter your Form 1099-R in TurboTax:

1. Open or continue your return.
2. In the Federal section, select Wages & Income.
3. Scroll to locate Retirement Plans and Social Security.
4. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).

You can also find the 1099-R section using Search. Open your return, enter 1099-r in the search bar, and select the Jump to 1099-r link.

Click here for the Department of Defense's Finance and Accounting.

Click here for a copy of the Department of Defense Beneficiary Designation Form.

Click here for where to enter your Form 1099-R