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kpsails
New Member

My Coast Guard retired pay is listed under 1099-R's as if it's a "withdrawal" from an annuity (which it isn't). Am I reporting this in the right section?

 
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4 Replies

My Coast Guard retired pay is listed under 1099-R's as if it's a "withdrawal" from an annuity (which it isn't). Am I reporting this in the right section?

Yes, you are in the correct section -  IRA, 401(k), Pension Plan Withdrawals (1099-R)

dmertz
Level 15

My Coast Guard retired pay is listed under 1099-R's as if it's a "withdrawal" from an annuity (which it isn't). Am I reporting this in the right section?

TurboTax uses the word "withdrawal" in place of the more proper word "distribution."

My Coast Guard retired pay is listed under 1099-R's as if it's a "withdrawal" from an annuity (which it isn't). Am I reporting this in the right section?

What makes you think that is not correct?     What code is in box 7 on  the 1099-R?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
kpsails
New Member

My Coast Guard retired pay is listed under 1099-R's as if it's a "withdrawal" from an annuity (which it isn't). Am I reporting this in the right section?

Thanks for the clue that Turbotax incorrectly labeled the pension "distribution" as if it were a "withdrawal".  That was very confusing for me, but your explanation cleared it up for me. Thanks to whoever provided that answer.

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