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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
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Question regarding my father's OMB 1099R Box

Customer Question

***** *****. Question regarding my father's OMB 1099R Box 2a which states "unknown"
JA: Thanks. Can you give me any more details about your issue?
Customer: Attempting to calculate the taxable amount of my father's pension from the federal government.
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 6 months ago.
Category: Tax
Expert:  Lev replied 6 months ago.
In most situation s- the full distribution would be taxable.However if your father made contributions with after tax money - he would have a basis - and distribution would be partially tax free.For calculation - you would need to know the total value of teh account and the basis.
Customer: replied 6 months ago.
There is a worksheet to calculate the taxable amount of pensions using the simplified rule. Are you familiar with the document and how to complete it
Expert:  Lev replied 6 months ago.
Yes - I am well familiar with that worksheet.If you already completed it - you may post here and I will verify your calculations.