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Teacher retirement system pension not IRA No starting value

 
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MiriamF
Intuit Alumni

Teacher retirement system pension not IRA No starting value

If  you are getting payments from a retirement plan, and Box 2 is blank, it can be a headache to figure out the taxable portion.

You will have non-taxable benefits only if you made after-tax contributions to the plan. Because plans differ among states and school districts, there is no way to tell whether a plan has any after-tax contributions without contacting the HR department of your employer, and even they may not know.

If boxes 5 and 9b are both blank, and you didn't make after-tax contributions, then the full amount will be taxable. Enter the 1099-R exactly as written. When TurboTax asks about the taxable amount, give it your best answer.

See this link for the TurboTax FAQ on entering taxable pension income. 


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