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M
MC125
April 9, 2024
Question

retired clergy went back to work

  • April 9, 2024
  • 1 reply
  • 0 views

hello, 

A retired clergy with 1099R went back to work as a minister in 2023 mid-year so there is a W2 with Housing Allowance. Can income from 1099 R be legitimately deducted from income in this case? MWC

    1 reply

    L
    LeticiaF1
    April 9, 2024

    No, normally 1099-R income cannot be excluded.  One way that some of the distribution might not be taxable is if you made after-tax contributions to an annuity or pension, then only a portion of the distribution will usually be taxed.  Another way is if the 1099-R distribution is from a Roth IRA.  For more information on other 1099-R situations visit the TurboTax help article below:

     

    When to Use Tax Form 1099-R: Distributions From Pensions, Annuities, Retirement, etc.

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