Question

On my OMB 1099R 2a shows Taxable Amount UNKNOWN. How much tax should I pay on this ?

Forum|Forum|1 year ago
March 13, 2025
2 replies
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Employee

The software will calculate the tax owed--if any. "unknown" is there because the financial institution that issued the 1099R does not have any way to know what other taxable income you received.

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S

spuk00

You will use the simplified method. When entering your 1099-R, next to the taxable amount is a learn more link. click on that, scroll down until you find the simplified method link. Click on that and follow the instructions.