TurboTax FAQ
TurboTax FAQ
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Do I claim pension or annuity income on my tax return?

Yes, pensions and annuities are generally taxable income.

A pension is a series of payments made to you after you retire from work, are for past services, and are made regularly.

An annuity is a series of payments under an insurance contract. You can buy the contract alone or you can buy it with the help of your employer. Annuity payments are made regularly for more than one full year.

You should receive a Form 1099-R reporting your distribution for the year for each plan you have. In the TurboTax search box, enter 1099-r, click on the jump to link, and follow the prompts.