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traceetk
New Member

My pension and annuity distributions is $86,980 but TurboTax reduced it to $39,684. All of it should be taxable. Why was it reduced?

My pensions are from our military retirement and my civil service retirement. Should it be reduced?
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2 Replies
JamesG1
Employee Tax Expert

My pension and annuity distributions is $86,980 but TurboTax reduced it to $39,684. All of it should be taxable. Why was it reduced?

The pensions distributions on IRS form 1099-R in box 1 reported $86,980.  On the Federal 1040 income tax return, are you saying that the box 2a (taxable amount) was reduced to $39,684 by use of the simplified method or general rule?  Or are you saying something else?

 

For instance, are you saying that the Federal 1040 income tax return reports a taxable amount of $86,980 and a state income tax return reduced the taxable amount to $39,684?  What state would that be?

 

Please clarify.

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traceetk
New Member

My pension and annuity distributions is $86,980 but TurboTax reduced it to $39,684. All of it should be taxable. Why was it reduced?

After reviewing my taxes again, there was an input error. I put in the taxable amount box the federal taxes withheld. After I corrected that error, it computed correctly.

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