topic We purchased an annuity 3 yrs ago. Amt. in Box 1 includes interest. Taxable amt. is shown in box 2a. Why is the entire amount showing in the retirement income section? in Retirement tax questions

We purchased an annuity 3 yrs ago. Amt. in Box 1 includes interest. Taxable amt. is shown in box 2a. Why is the entire amount showing in the retirement income section?

Joyski — Tue, 10 Feb 2026 11:10:34 GMT

The annuity matured in 2023 at which time the principle and interest was distributed.

Re: We purchased an annuity 3 yrs ago. Amt. in Box 1 includes interest. Taxable amt. is shown in ...

ThomasM125 — Tue, 20 Feb 2024 18:51:02 GMT

Income from an annuity is reported on a Form 1099-R "Distributions from Pensions, Annuities, Retirements Plans, etc..."

It shows up on line 5 of your Form 1040 "Pensions and Annuities." As such, it is considered retirement income, so it appears in that section in TurboTax.

Re: We purchased an annuity 3 yrs ago. Amt. in Box 1 includes interest. Taxable amt. is shown in ...

Joyski — Fri, 23 Feb 2024 12:54:58 GMT

Thank you for the info. The way it works became clear when I looked at the 1040.