Is my pension plan taxable

Forum|Forum|4 years ago
January 24, 2022
3 replies
27 views

i am retired and is my pension plan taxable

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SweetieJean

Alumni - Champ

Normally, yes. Enter the 1099-R here:

Federal > Wages and Income > Retirement

MinhT1

Level 15

Most pensions are funded with pretax income and consequently the full amount of your pension would be taxable when you receive the funds.

Assuming that you made no after-tax contributions to your plan, pensions from government and private organizations are taxable at your ordinary income rate.

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xmasbaby0

Level 15

Enter your 1099R

Go to Federal> Wages & Income>>Retirement Plans and Social Security (SSA1099 and 1099RRB) to enter your SSA1099.

Your retirement income may or may not be taxable on your state return, depending on what state you are in.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**