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Level 2
posted Feb 28, 2024 10:28:01 AM

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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1 Best answer
Expert Alumni
Feb 28, 2024 12:26:47 PM

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. 

1 Replies
Expert Alumni
Feb 28, 2024 12:26:47 PM

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.