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I HAVE A CSA 1099-R WITH "UNKNOWN" IN BOX 2A, DO I CHECK THE " TAXABLE AMOUNT NOT DETERMINED" ? AND THE AGE OF THE TAXPAYER IS 74 YEARS OLD ?

THE ANNUITY WAS STARTED IN 1994
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qbteachmt
Level 15

You don't checkmark something they didn't mark. You are not the originator of that info. Just enter what you see.

If you need help, Google this:

irs 1040 1099-r simplified method worksheet

That worksheet is in the Form 1040 instructions.

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Just-Lisa-Now-
Level 15
Level 15
CSA 1099R isnt like a regular 1099R, they dont have a box for 'taxable amount not determined', they have the word Unknown in the taxable box instead.

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BobKamman
Level 14

So he retired at 58 and would have recovered his cost in 260 months -- by 2016.  Usually, though, when I see a blank for "taxable amount," there is some special situation, like disability retirement or a survivor pension.  Helps to know when he started his federal career, to figure how much he would have paid in after-tax contributions.  

Rule of thumb:  If he has a pension file dating back to when he retired, take a look.  Otherwise, it's all taxable.  And Pub 721 is a good source.  

George4Tacks
Level 15

Start at page 8 and estimate if they have recovered their contribution. https://www.irs.gov/pub/irs-prior/p575--1994.pdf

Once you determine, you should be able to input the computed amounts into the system so it would automatic. I don't do PS, so I can't help with those steps. Come back if you need help and I will try to get someone to do so.

 


ex-AllStar
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