I have a nontaxable pension fronNYC which shows up in box 5a I did my returns with turbo tax and my nontaxable pension amout does not show up Wondering why?

Forum|Forum|2 years ago
April 9, 2024
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AmyC

Employee

You state that the pension shows on line 5a of the tax return and then ask why it isn't showing. Can you clarify your question?

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f46b74d49c19Author

I was on the phone for 45 minutes with a turbo tax specialist and did an amendment with her guidance an d nontaxable income doed not show up on my tax form 1040 for seniors and the income still did not show up on the form My inuit turbo tax agent suggested I contact the IRS after a few tries and lot s of time on the phone I did not get through. So I have not mailed the returns in yet.

BillM223

You mean that the nontaxable pension is supposed to show up in line 5a (1040), but not in line 5b(1040), right?

The instructions for lines 4 and 5 on the 1040 are quite odd, but there are many situations in which the IRS doesn't want you to fill in line 4a or 5a. Yes, this means that your nontaxable distributions may not print, but that is absolutely OK.

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f46b74d49c19Author

It still did not show up anywhere on my 1040 sr form

VolvoGirl

Employee

Maybe @dmertz can help when he's around.

dmertz

Employee

We haven't yet heard what form was provided by the pension plan and, if it was Form 1099-R, what code is present in box 7, whether the IRA/SEP/SIMPLE box is marked. Also, what circumstances make this pension nontaxable?

Note that if all amounts present on line 5 are being treated as fully taxable, line 5a will be blank and line 5b will show the full amount.