turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

chjeffrey
New Member

why does turbotax treat a defined benefit pension payment as an annuity payment. An annuity is not a pension payment.

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

why does turbotax treat a defined benefit pension payment as an annuity payment. An annuity is not a pension payment.

@chjeffrey 

 

Yeah, a confusing change in their generic labelling text from how they displayed that page in prior years.

Ignore the term if you can.

I guess that , in a certain sense, even regular pensions are "annuitized".

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
chjeffrey
New Member

why does turbotax treat a defined benefit pension payment as an annuity payment. An annuity is not a pension payment.

they didn't just refer to a pension payment as an annuity, which is confusing in itself, but the next screens ask for information (start date, initial cost, etc.) that apply to annuities, not to pension payments.  Not including this irrelevant information then prevents a filer from completing the return and filing electronically.   

why does turbotax treat a defined benefit pension payment as an annuity payment. An annuity is not a pension payment.

@chjeffrey 

 

You might need to delete the entire form and enter again from scratch.

And enter it manually  "Type it in myself"

___________________________________

If your box 2a has a non-zero number in it..(not blank, nor marked as undetermined), and that number is somewhat lower than the box 1 number, due to an after-tax contribution amount that is noted in box 5...then edit that retirement form again, and when you get to the following page (below), answer it as-if the displayed edits were present  (i.e. you needed to answer YES).  

 

Answering YES will use the box 2a $$ amount on your for 1040.  Check lines 5a and 5b before and after entering that 1099-R. 

 

But if you answered No to that question, and already entered some $$ in the "General" or "Simplified" calculation area ,you might need to delete your 1099-R first and re-enter it from scratch.t though)

_________________________________

1099R_Box2a_2025text.png

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question