Where do I enter in the total annuity payments received this year for an RRB-1099-R

Forum|Forum|2 years ago
February 18, 2024
1 reply
6 views

I have entered in all of the information for the RRB-1099-R but I am not seeing where to enter in the total annuity payments received this year so my taxable calculation is showing 0, however working through Worksheet A in Pub 575 I should have a significant portion of taxable income.

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PhoebeRoberts

Intuit Community Champion

Enter the taxable amount identical to the gross amount. Fill in the Simplified Method boxes. Lacerte will calculate the adjustment.

W

wendijacleneAuthor

Level 2

Let me back this up a little bit - - the taxpayer retired this year. Has a RRB-1099 and an RRB-1099-R. According to the how to enter instructions in ProConnect. I entered the RRB-1099 in the Social Security screen (there is a spot for that and it makes sense as to why it belongs there).

If I enter the Gross Benefit amount in the RRB-1099-R then the taxpayer is being taxed twice on the same income. However, that does begin the calculation (simplified method) for tracking the reduction in the employee contributions.

Thoughts? Suggestions??

PhoebeRoberts

Intuit Community Champion

It's not the same income. One piece goes in the Misc Income screen, one in the Pension screen.

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