This year a new company took over administering my pension. This year's Form 1099-R from the new company has no value in box 2a (Taxable amount) and box 2b, Taxable amount not determined, is checked. If I enter the Form 1099-R into Turbo tax that way (no Taxable amount) Turbo Tax sends me down a rabbit hole trying to figure out the taxable amount and asks me questions to which I don't know the answers and have no way to figure out. This pension is from a company that I last worked for in 1995.
In previous years, the Gross distribution, box 1, and the Taxable amount, box 2a, have always been the same. Sometimes box 2b, Taxable amount not determined, is checked and sometimes not checked. There is an amount in box 4, Federal income tax withheld.
Question 1----Even though the actual Form-R box 2a is empty, can I just enter the same gross distribution amount into box 2a in Turbo Tax and continue?
Question 2----Should I leave box 2b, Taxable amount not determined, checked or not?
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Yes, you can enter the Box 2a taxable amount because you have had the pension for a while and it follows the past treatment- instead of answering the follow-up questions. If you are entering the taxable amount, you should uncheck the Taxable amount not determined.
Yes, you can enter the Box 2a taxable amount because you have had the pension for a while and it follows the past treatment- instead of answering the follow-up questions. If you are entering the taxable amount, you should uncheck the Taxable amount not determined.
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