topic Two 1099-R forms in Get your taxes done using TurboTax

Two 1099-R forms

Calql8r — Wed, 05 May 2021 22:09:49 GMT

Hello--

I am a 60-year-old retiree who has received a pension since 2016. This year, I have received two different 1099-R forms for some unknown reason. The 2a amounts add up to the total pension I have received every previous year. One form, containing higher share of my income, has a Distribution Code of 7, while the other form has a 2. When I try to list them separately, I get a question about Simplified Method or General Rule, neither of which I have heard of. My wife, who collects a pension from the same institution as me, received one 1099-R form, just like in previous years--only mine is split into two forms.

Some guidance would be appreciated.

Re: Two 1099-R forms

macuser_22 — Wed, 05 May 2021 22:15:20 GMT

@Calql8r wrote:

Hello--

I am a 60-year-old retiree who has received a pension since 2016. This year, I have received two different 1099-R forms for some unknown reason. The 2a amounts add up to the total pension I have received every previous year. One form, containing higher share of my income, has a Distribution Code of 7, while the other form has a 2. When I try to list them separately, I get a question about Simplified Method or General Rule, neither of which I have heard of. My wife, who collects a pension from the same institution as me, received one 1099-R form, just like in previous years--only mine is split into two forms.

Some guidance would be appreciated.

You would have gotten the same question in 2019. How did you answer it then? You probably just use the box 2a amount as the taxable amount.

Re: Two 1099-R forms

Calql8r — Wed, 05 May 2021 22:26:52 GMT

I didn't get the same question last year because I didn't get two forms last year. I'd just combine the two amounts on each form and enter the data that way, except the distribution codes are different.

Re: Two 1099-R forms

macuser_22 — Wed, 05 May 2021 22:32:30 GMT

The question is asked for each 1099-R. Code 2 and 7 are treated the same.

Re: Two 1099-R forms

macuser_22 — Wed, 05 May 2021 22:35:53 GMT

Code 2 is actually an improper code since it means that you are under age 59 1/2 but it makes no difference in the tax or questions.