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Level 1
posted Mar 30, 2022 2:27:19 PM

My 1099R from OPM lists the gross distribution in Box 1 and the word "unknown" in Box 2a. How do I know what to enter in the 1040?

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3 Replies
Expert Alumni
Mar 30, 2022 3:30:26 PM

TurboTax Online will use the simplified method to determine the taxable portion for box 2a of your CSA 1099-R.   Presuming that:

 

  • Monthly payments were received,  
  • Payments started in 2021, and 
  • That box 7 is code 7.

You will need to know:

 

  • The amount of the employee contributions (should be in box 9b),
  • The date the annuity started,
  • The number of months that payments were received in 2021, 
  • The age of the recipient when the annuity started,
  • The age of other beneficiaries (if there are any), and 
  • Was the recipient under the retirement age for the plan.

Follow these steps:

  • At the screen Who gave you a 1099-R, select Office of Personnel Management (CSA 1099-R).
  • At the screen Any Periodic Payments? select Yes, got regular payments from this retirement account.
  • At the screen Payment Start Year select Yes started getting payments in 2021.
  • At the screen Let’s figure Out How Much is Taxable, select I need to figure out how much of this money is taxable.
  • At the screen Enter Annuity Information enter required information.  Plan Cost should be in box 9b.
  • At the screen Enter Ages enter required information.

View Federal 1040 tax return line 5a and 5b at Tax Tools / Tools / View Tax Summary / Preview my 1040.

Level 1
Apr 2, 2022 1:59:18 PM

Let me restate my question:  I have been an annuity from the Office of Personnel Management for several years.  For calendar year 2021 the form 1099R states a follows: 

Box 1 Gross distribution-$43,704.00

Box 2a Taxable amount-UNKNOWN

Box 4 Federal Income Tax Withheld-$1,861.20

Box 5 Employee Contributions/Designated ROTH Contributions or Insurance Premiums-$7271.56.

Box 7 Distribution Code(s)-NONDISABILITY

Box 9b Total Employee Contributions-$33,940

Box 14 State tax withheld-NONE

Box 14 State tax withheld-NONE

Other boxes left blank.

Hence, the basic question becomes: Is the taxable amount as listed in Box 1 or is it some other figure?

If this exceeds your vaunted tax capabilities, please advise so that I can find qualified assistance elsewhere.

Expert Alumni
Apr 3, 2022 4:17:22 AM

@JamesG1 answered your question in great depth.

 

"TurboTax Online will use the simplified method to determine the taxable portion for box 2a of your CSA 1099-R."

 

If you have sufficient information to use the simplified method, the program will calculate the nontaxable portion. If you do not, it is all taxable.

 

"You will need to know:

 

  • The amount of the employee contributions (should be in box 9b),
  • The date the annuity started,
  • The number of months that payments were received in 2021, 
  • The age of the recipient when the annuity started,
  • The age of other beneficiaries (if there are any), and 
  • Was the recipient under the retirement age for the plan."