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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
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Experience:  15years with H & R Block. Divisional leader, Instructor
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I am a 72 year old retiree since 1995 my CSA1099R shows Unknown

Resolved Question:

I am a 72 year old retiree since 1995 my CSA1099R shows Unknown in block 2a, last year I entered amount from block 1. This year I am wondering if I should have left blank
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Robin D :

Hello and thank you for using Just Answer,
You may be correct. Depending on your annuity starting date, you would use a method to calculate you r taxable portion. You would do this because you need to recover your cost in the plan. Your monthly annuity payment contains an amount on which you have previously paid income tax. This amount represents part of your contributions to the retirement plan.
There is a worksheet in IRS Publication 721. If your annuity starting date is after November 18, 1996, you must use the Simplified Method.
Under the Simplified Method, you figure the tax-free part of each full monthly payment by dividing your cost by a number of months based on your age.

Robin D :

You will need to calculate your true taxable amount for the retirement income.

Robin D :

I sincerely XXXXX XXXXX information is helpful but please respond, before you rate, if you have a question on any of the specific lines on the worksheet.

Robin D :

Because your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method.

Robin D :

If you have not been completing your own return since you have been receiving the 1099R, you should look back at your past returns to verify what method was used (probably Simplified but you need to look).

Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 7540
Experience: 15years with H & R Block. Divisional leader, Instructor
Robin D. and 3 other Tax Specialists are ready to help you
Expert:  Robin D. replied 1 year ago.
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Expert:  Robin D. replied 1 year ago.
Robin D :

Hello and thank you for using Just Answer,
You may be correct. Depending on your annuity starting date, you would use a method to calculate you r taxable portion. You would do this because you need to recover your cost in the plan. Your monthly annuity payment contains an amount on which you have previously paid income tax. This amount represents part of your contributions to the retirement plan.
There is a worksheet in IRS Publication 721. If your annuity starting date is after November 18, 1996, you must use the Simplified Method.
Under the Simplified Method, you figure the tax-free part of each full monthly payment by dividing your cost by a number of months based on your age.

Robin D :

You will need to calculate your true taxable amount for the retirement income.

Robin D :

I sincerely XXXXX XXXXX information is helpful but please respond, before you rate, if you have a question on any of the specific lines on the worksheet.

Robin D :

Because your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method.

Robin D :

If you have not been completing your own return since you have been receiving the 1099R, you should look back at your past returns to verify what method was used (probably Simplified but you need to look).

Customer: replied 1 year ago.


My turbotax said to leave CSA1099R box 2a blank and to do that for the past 3 tax cycle 2009 2010 2011

Expert:  Robin D. replied 1 year ago.
If you filled out the worksheet which shows how much was taxable then the box 2 would be adjusted to show the correct amount for each year. I cannot view your return for you but you can take it into a tax preparation office for review. There is a national chain that is looking over TurboTax prepared returns foe free.

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