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Entering railroad retirement benefits from Form RRB-1099, box 5 in ProConnect

SOLVEDby Intuit6Updated July 13, 2022

This article will assist you with entering railroad retirement benefits from Form RRB-1099, box 5 in Intuit ProConnect.

You can enter the railroad retirement benefits from Form RRB-1099, box 5 on the Income > SS Benefits, Alimony, Misc. Income screen, in the Social Security Benefits section. Enter the amount in the Tier 1 railroad retirement benefits (RRB-1099, box 5) field. The program calculates the taxable portion in the same way as taxable social security benefits (see below).

 

Don't report amounts from Form RRB-1099-R in this screen.

The program calculates the taxable portion based on modified adjusted gross income. The program calculates modified adjusted gross income by taking the adjusted gross income from Form 1040, excluding taxable social security benefits, and adding any non-taxable interest income. Also note the following:

  • When the taxpayer's status is Married Filing Separately, and they lived with the spouse, mark the checkbox labeled Live With Spouse? in the Client Information screen. The program eliminates the exclusion, per IRS instructions.
  • When the taxpayer/spouse has income earned in a foreign country, a U.S. possession, or Puerto Rico, that's excluded from gross income, you must manually calculate the taxable amount of social security benefits using the worksheet in IRS Pub. 915 and enter the amount in Taxable social security & railroad retirement [Override] on the SS Benefits, Alimony, Misc. Income screen.

If the taxpayer receives social security benefits in the current year, and also has current year IRA contributions, the program calculates the taxable portion as follows per IRS Pub. 590:

  1. The program calculates a tentative taxable social security amount based on the Social Security Benefits worksheet in the IRS instructions without using the IRA deduction.
  2. The program uses the tentative taxable social security amount calculated in step 1 to calculate the IRA deduction.
  3. After calculating the IRA deduction in step 2, the program recalculates the Social Security Benefits worksheet to determine the taxable social security benefits.

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