Line 4d can be smaller because of your answers to the questions about your 1099R. Did you move some of the 1099R distribution to another account? Did you do a Rollover? It would say Rollover by line 4. Or you said you had a basis in the 401k. Go back and check your 1099R entries.
Line 5 is for Social Security. It changes depending on your other income
Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:
Married Filing Jointly: $32,000
Single or head of household: $25,000
Married Filing Separately: 0
So I as review things, on the 1099 R, it says "unknown" in the box for taxable amount. We left that blank. Should I have filled in the entire amount, nothing, or something different?
If it says unknown you leave it blank. Then answer the follow up questions to determine the taxable amount. You may have answered one wrong. Why did you get the 1099R? What code is in box 7?
@HPScherer wrote:
So I as review things, on the 1099 R, it says "unknown" in the box for taxable amount. We left that blank. Should I have filled in the entire amount, nothing, or something different?
That is probably a CSA 1099-R from OPM.
OPM violates the 1099-R rules by writing "helpful" information in the box rather than just the value or code like they are supposed to. OPM has done that for years and it causes more confusion than help. They put UNKNOWN in box 2a when it should be blank, and put "7 NONDISABILITY" in box 7 when is should only be "7", "1" or "2".
The taxable amount in box 2a is usually the box 1 amount unless you have after-tax contributions in the retirement plan and use the simplified method. If this is NOT the first year of receiving payments, then you should use the same method that was used last year - either the box 1 amount or the simplified method, using the carry forward simplified information from last year.
If box 2a is blank or UNKNOWN then there should be amount in box 9b to use with the simplified method. If no amount in 9b then contact OPM to find the account "basis".
Enter a 1099-R here:
Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.
Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.
[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]
I think we got the form since we got money from the annuity. It says nondisability in box 7.
@HPScherer wrote:
I think we got the form since we got money from the annuity. It says nondisability in box 7.
Again, see my post.
It probable says "7 nondisability" which is just a code "7" like I posted.