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New Member
posted Jun 4, 2019 5:41:29 PM

Where do I put annuity income

0 7 4034
7 Replies
New Member
Jun 4, 2019 5:41:30 PM

Your annuity provider should have sent you a 1099-R.

The 1099 R will be entered in the Retirement Plans and Social Security section.

• Select Federal Taxes
• Select Wages and Income
• Select Show More at Retirement Plans and Social Security
• Select IRA, 401(k), Pension Plan Withdrawals (1099-R)

This section will also include an annuity distribution.

Form 1099 R is used for all types of retirement accounts. The data entry is the same for distributions from pensions, IRAs, 401ks and annuity distributions.

New Member
Feb 3, 2022 8:33:36 PM

i’m trying to do my return and it won’t let me and it keeps getting rejected 

Level 15
Feb 4, 2022 5:46:04 AM

@TriciaDegroat29  What is the rejection message/code? 

New Member
Jan 29, 2023 7:47:02 PM

My 1099-R has an amount of $5541. The annuity company told me I would only have to pay tax on the earnings which was $541. The amount put into the annuity when purchased was $5000 post tax and should not be counted as income. Also the annuity has past its maturity date. 

Expert Alumni
Jan 30, 2023 5:45:44 AM

Where are you seeing the amount of $5,541 on the 1099-R?  Is it in box 1 or box 2a?  Or somewhere else?

 

From the information that you provided, I suspect box 1 shows $5,541 and box 2a shows $541.

 

Please clarify.

 

@bartonma

 

New Member
Jan 30, 2023 5:48:27 AM

Box one shows $5541 and box 2 is empty. The $541 is shown on the earning statement  from the institution. 

Expert Alumni
Jan 30, 2023 7:33:41 AM

It depends on what form you are referring to.  Generally annuities are reported on Form 1099-R.  If this is a transfer from one to another it may be on Form 1035.  Please clarify in order to correctly respond to your question.