Retired federal employee, trying to enter Annuity Information. For box asking for the "PLAN COST' and box asking for Tax-Free Amount Previously Recovered.

I completed a Simplified Method worksheet but do not know which amounts from this sheet go into the 'Plan Cost'

196

Expert Alumni

Apr 11, 2021 7:42:27 AM

Please see this answer from MargaretL.

The plan cost is often listed in box 9b of the form 1099-R. If the information is not listed there and you are not sure what the number should be, I recommend that you contact your annuity administrator or look into your old records. It is beneficial for you to find this, as the plan cost reduces your taxable income on the annuity distribution.

The plan cost of your annuity is the amount of your after-tax dollars that you (or plan owner) put into the annuity (your voluntary contributions).

Your annuity start date is the date when you started receiving your first check (your distributions). This information is not listed on 1099-R...if you don't remember and can't find it in your records, the plan administrator should have that information.

Note: If your annuity is OPM and you are still unsure, you may contact OPM at 1-888-828-9451 to inquire about your voluntary contributions and start date.

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Retired federal employee, trying to enter Annuity Information. For box asking for the "PLAN COST' and box asking for Tax-Free Amount Previously Recovered.