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On the 1099-R in Box 5 there is only one amount in Box 5. How do I know if this is all health insurance premium

Also there is the question about RMD. I did not receive any distribution. I just began receiving my annuity in May 2016.
1 Reply
MichaelDC
New Member

On the 1099-R in Box 5 there is only one amount in Box 5. How do I know if this is all health insurance premium

Is this a CSF/CSA? If so, any number in Box 5 is ALWAYS health insurance premiums and is entered automatically by TurboTax on Schedule A as a medical deduction.

All retirement accounts, even pensions and annuities, must meet the RMD requirements.

However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically (in your case monthly).  Therefore, you may simply select "yes" to the RMD question (Was this withdrawal RMD and all of this was RMD).  You will also be asked if the amount reported is paid periodically in equal amounts.  By selecting "yes" the RMD requirements are met and you may continue with the tax preparation.

Please be sure, though that 1099-R CSA is entered in the correct section, and not as a regular pension.

Please follow the steps below to enter CSA 1099-R.

1. Federal Taxes

2. Wages & Income, Jump to Full list

3. Scroll down and select IRA, 401(k), Pension Plans. On the screen Tell Us Which 1099-R you Have please be sure to select CSA-1099-R Civil Service annuity (if you are the original owner and not the survivor) or CSA-1099-R Civil Service survivor annuity (if you are survivor, but not the original owner). Select Continue and you will see automatically filled in information on OPM. Select Continue again and you will see Enter Annuity Information screen. You will be prompted to data entry and additional questions about your annuity. Please be sure to enter all information – including your contributions- exactly as it appears on the form. This will ensure proper calculation of the taxable amount.

 


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