1099-R

Forum|Forum|5 years ago
March 20, 2021
1 reply
4 views

2020 first yr retired as public safety officer and collected disability pension income. Box 5 has an amount and TurboTax asks confusing quesions about it being a rollover, etc. I used time on books as contributions to 401/457 maximums, and left over money was paid to me, shown on separate W-2. Plan Administrator did deduct my medical premiums from disability income throughout the year. I didn't rollover or convert any money. When it asks about "periodic payments" is this referring to my pension income or 401/457 plan? Thanks in advance for your help!

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DanaB27

Level 15

The periodic payment question is in regards to the 1099-R distribution you are currently entering. If I understood correctly, your are entering your pension income and therefore the question applies to your pension income.

TurboTax will ask follow-up questions for each 1099-R you are entering.

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newretiree1Author

Level 2

You are correct about the pension. However, the amount in Box 5 is not indicative of my 10 months of pension insurance payments employer deducted on my behalf. Further, Box 1 - my pension distribution, is $4,930.15 more than the total pension money I actually received in 2020. Why? Thanks again!