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Why does my one 1099-R Box 5 for Illinois Mun Retirement fund state 5. Non-taxable amount, with an amount in it, and not Employee Contributions/etc. ?

 
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JulieS
Expert Alumni

Why does my one 1099-R Box 5 for Illinois Mun Retirement fund state 5. Non-taxable amount, with an amount in it, and not Employee Contributions/etc. ?

Yes, box 5 of Form 1099-R should be  "Employee contributions/ Designated Roth
contributions or insurance premiums", but sometimes government payers modify their form slightly. 

 

Whether the description matches exactly or not, the amount is the non-taxable portion of the amount in box 1. 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
JulieS
Expert Alumni

Why does my one 1099-R Box 5 for Illinois Mun Retirement fund state 5. Non-taxable amount, with an amount in it, and not Employee Contributions/etc. ?

Yes, box 5 of Form 1099-R should be  "Employee contributions/ Designated Roth
contributions or insurance premiums", but sometimes government payers modify their form slightly. 

 

Whether the description matches exactly or not, the amount is the non-taxable portion of the amount in box 1. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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