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Employee

Solved

Do we mark the IRA/SEP/SIMPLE box on the 1099R?

Forum|Forum|6 years ago
March 14, 2020
2 replies
0 views

Are military pensions considered simplified employee pensions; do we mark the IRA/SEP/SIMPLE box on the 1099R?

Best answer by Rainman12

No, military pensions are Not taxed like IRA/SEP/SIMPLE; do not mark box.

They are fully taxable to IRS, but some states have special rules.

Rainman12Answer

Employee

No, military pensions are Not taxed like IRA/SEP/SIMPLE; do not mark box.

They are fully taxable to IRS, but some states have special rules.

Employee

I appreciate the quick replies. I have only been retired for a few years and have downloaded 1099Rs electronically. Unfortunately the electronic 1099Rs from the military site I access does not have an IRA/SEP/SIMPLE box listed which caused confusion since Turbo Tax asks if the box is marked; in my case, no box was on the downloaded form.

Employee

That's pretty simple. If you don't have that box on your actual 1099R then obviously it is not checked.

https://www.irs.gov/pub/irs-pdf/f1099r_19.pdf

Employee

No. Military pensions are not IRA accounts. Enter your 1099-R exactly how you see it; that box should not be marked.

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Employee

I appreciate the quick replies. I have only been retired for a few years and have downloaded 1099Rs electronically. Unfortunately the electronic 1099Rs from the military site I access does not have an IRA/SEP/SIMPLE box listed which caused confusion since Turbo Tax asks if the box is marked; in my case, no box was on the downloaded form.