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?

[JamesG1]

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.

[steponkusb]

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.

[ColeenD3]

@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."