What is the closest description of a "Defined benefit plan" in the retirement income drop- down menu?

[dhm77]

"Early distribution" is a choice, but mine is a "Normal distribution"

[DianeW777]

You should select the number and/or letter that is printed on your Form, 1099-R. If no entry is printed on your form you should seek a correction by the plan administrator.  Defined benefit plans provide a fixed, pre-established benefit for employees at retirement.

If you are receiving payments from your defined  benefit plan as normal retirement distributions then the code in Box 7 would be 7 for 'normal distribution'.

Please update here if you need more clarification.

[dhm77]

Turbo tax is asking for a more detailed description of the plan itself, i.e. IRA etc.

None of the choices in turbo tax’s drop-down menu match “defined benefit”

[JulieS]

A defined benefit plan is a pension plan. From a tax point of view, it is the same as a traditional pension plan, just the way the plan determines the amount paid out is different. 

I am not certain to which dropdown you are referring. DianeW777 clearly assumed it was the dropdown for box 7.  

If this doesn't answer your question, please clarify your question with more details about the choices you see in TurboTax. Is this question in your state section? Which state are you filing?

[dhm77]

It's this question on my Pennsylvania state return :  What type of retirement income do you have from Pennsylvania?” The drop-down menu choices are:

PA school plan

United Mine workers pension

Military pension

Annuity

Early distribution 

Rollover

I’m Eligible; plans eligible 

Traditional Roth

Non-qualified deferred comp. plan

Life insurance 

ESOP

KSOP

[DaveF1006]

To clarify, what kind of retirement distribution is this and who issued it?

@dhm77 

[dhm77]

It’s a union pension from a private employer.

[ErnieS0 · Accepted solution]

A defined benefit plan is a traditional pension. It pays a fixed amount every month. For Pennsylvania tax purposes a defined benefit plan is a qualified plan. 
 

Choose one of these options:

1. I’m eligible; plan’s eligible (no PA tax). Choose this if you your pension or retirement plan was an eligible plan for PA PIT purposes, and you retired after meeting the age conditions of the plan or years of service conditions of the plan.
    
2. I’m not eligible yet; plan’s eligible in PA. Choose this if your plan was not an eligible plan, or if you have not attained the age or years of service required under the plan to retire.

Learn more at How do I know if the amount on my 1099R (1099-R) is taxable on my PA Personal Income Tax Return?

[dhm77]

Thank you!