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1099-R Taxable Amount Blank

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I have had a few 1099-R's come through with nothing in the taxable amount field and, of course, the box is checked "Taxable Amount Not Determined." One was a school teacher and one a municipal employee. Do these sectors have retirement/pension plans that are handled differently than private sector?

Is there any scenario where these distributions would NOT be taxable? I can't think of any, but without knowing the source of these funds now being withdrawn, I don't want to guess.

Anyone out there have ideas?

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Posted · Report post

I have had a few 1099-R's come through with nothing in the taxable amount field and, of course, the box is checked "Taxable Amount Not Determined." One was a school teacher and one a municipal employee. Do these sectors have retirement/pension plans that are handled differently than private sector?

Is there any scenario where these distributions would NOT be taxable? I can't think of any, but without knowing the source of these funds now being withdrawn, I don't want to guess.

Anyone out there have ideas?

In most instances these pensions are taxable, but not hte full amount. Upon retiring these retirees should have received a notification from the retirement program of how much of their pension would be taxable (or vice versa, nontaxable). So many of them, however, didn't even keep (much less read and understand) these letters. But I have had very good experience in calling the retirement board and getting them to help me with this; usually this is done while the t/p is in my office so they give the person on the other end permission to send me the requested info. Does the 1099-R have any amounts in box 5, "Employee Contributions"?

Lynn Jacobs, EA

Kenner, LA

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Posted · Report post

Does the 1099-R have any amounts in box 5, "Employee Contributions"?

Lynn Jacobs, EA

Kenner, LA

No, there are no amounts in Box 5. One of the forms (teacher) has no taxes withheld, but the other (municipal guy) has both fed and state taxes withheld. That one almost has to be taxable - otherwise, why would taxes be taken out.

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Posted · Report post

No, there are no amounts in Box 5. One of the forms (teacher) has no taxes withheld, but the other (municipal guy) has both fed and state taxes withheld. That one almost has to be taxable - otherwise, why would taxes be taken out.

I have people who have taxes withheld from their pensions even though their pensions are not taxable. They do this because they have other income that creates a tax liability and they do not want to make estimated tax payments.

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