Question

Military retirement

Forum|Forum|5 years ago
July 10, 2020
2 replies
0 views

Why is the format for entering 1099R information in turbo tax different this year? Why are my taxes due so much higher than in past years? I am not withdrawing from a retirement fund, I am receiving a retirement check. And what is up with all the disaster fund questions. These are retirement payments from the military not withdrawals from a retirement account.

D

dmertz

Employee

Nothing has substantially changed in TurboTax with regard to entering retirement income. Make sure that you are entering the particular 1099-R on the correct type of 1099-R form in TurboTax.

J

JMDoddAuthor

There is no 1099R selection for Military Retired pay as in the past. I am not drawing from a pension fund.

SusanY1

Military retirement pay is taxable on your federal tax return, based on your 1099-R entries. If you are paying more in tax something else has likely changed on your tax return such as your withholding or other income.

Your state may treat the military retirement pay differently, and this will be addressed in the state tax interview.

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SteamTrain

Employee

The disaster questions are annoying though...if you never took any special disaster distribution from any type of retirement account in this, or prior years, just skip thru them selecting "No", when available, and leaving the various "Repayment" entries blank when it asks how much.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*