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I started receiving my retirement money in October. Do I need to include this on my taxes? Where would I include it on a 1040?

 
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AnnetteB6
Expert Alumni

I started receiving my retirement money in October. Do I need to include this on my taxes? Where would I include it on a 1040?

Yes, you should include your retirement income on your tax return.  It will be reported on your Form 1040 on line 5.

 

You should have received a Form 1099-R from the company paying your retirement to you.  If you did not receive the Form 1099-R, then you need to contact the payer immediately to get a replacement copy of the Form 1099-R.  That form is needed in order to enter the information into your tax return and accurately determine what amount is taxable income.

 

If you have an online account where you can access your retirement benefits, you may be able to download a copy of your Form 1099-R using that online account.  

 

Once you have your Form 1099-R, use the information in the following TurboTax help article to enter the information into your return:

 

Where do I enter my 1099-R?
 

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