Survivor Benefits

Forum|Forum|4 years ago
February 7, 2022
1 reply
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I received a one-time survivor benefit from my father's pension in 2021.

I had two options. One option was to receive the money tax-free if deposited into an IRA. The other option was to receive the money with tax taken out if deposited into a bank account.

I choose to receive the money with tax taken out and deposited into my bank account.

Is there anything I need to do in regards to this when filing my 2021 taxes? I have not received a 1099-R.

TurboTax Self Employed Online

DianeW777

Level 15

Yes. You will receive a Form 1099-R with the amount of the distribution and the taxable amount. It will also include and show the amount of federal income tax withheld so that it will be included as a payment on your tax return.

Contact the plan administrator if you do not receive the form with in a few days. It's possible to have it emailed to you quickly. They had until January 31st to issue the form to you.

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Arch StantonAuthor

Level 3

Actually, I just called them. The reason I didn't get the 1099-R is because I moved and the letter is not forwardable.

So, they gave me the numbers off the 1099-R over the phone. Being that I'm filing online electronically, this should suffice, right?

Arch StantonAuthor

Level 3

No, it does not mean that. You omitted income when you initially filed. You will now have to amend to include that income.

Sign in to TurboTax

Scroll down to Your tax returns and documents, select 2021, then Amend (change) your return
- If you only see the option to amend 2020 or earlier, it's because you can't amend an unfiled 2021 return. Instead, select Pick up where you left off so you can make any changes before you file
Carefully follow the instructions to amend.

I did not omit income. I was asking what happens if the payer's TIN number was entered incorrectly and I have already received my tax refund. Is there any further action required on my part.