Skip to main content
April 10, 2025
Question

My pension is paid monthly and is based on the income I had at the time of retirement. How do I show that?

  • April 10, 2025
  • 2 replies
  • 0 views
No text available

    2 replies

    VolvoGirl
    Employee
    April 10, 2025

    What question are you trying to answer?  You should get a 1099R to enter into your return.  

    Enter a 1099R under
    Federal Taxes
    Wages & Income
    Then scroll way down to Retirement Plans and Social Security
    Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start

     

    If it’s asking if you took the RMD,  Say all of it is the RMD.   If you need to take the RMD it will ask you if it is the RMD.  Say yes.  Anything your pension pays you is considered to be the  RMD.  Traditional pensions automatically fulfill the rules of an RMD. So for the RMD question put in the same amount as box 1.



    April 10, 2025

    If you receive a pension you should have received a Form 1099-R.  You would report the information on that form on your tax return.  The fact that you are paid monthly and the amount is based on your income at the time of your retirement are not things that you need to report on your tax return.   If you didn't receive a Form 1099-R, you need to contac the pension plan administrator to get a copy.  

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"