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13 April 2018 11:42 I have a Form 1099-R reporting the

13 April 2018 11:42 I have...
13 April 2018 11:42
I have a Form 1099-R reporting the amount I received, the $29,370.01 from my "Gross Distribution" from my "pensions, Annuities, Retirement, or Profit-Sharing Plan", IRAs, Insurance Contracts, etc." That is also in the box on the Form 1099-R saying "Taxable amount". However, I did not get such a form from Social Security, and I just figured out that the benefit I received in 2017 was "33,288" or 12 times "$2774". I have not received a form showing how much to put in Box B here.
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Answered in 2 hours by:
4/13/2018
Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3,187
Experience: EA, CEBS - 35 years experience providing financial advice
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You will not receive a form from SSA showing how much you should put on line 20b of Form 1040. The amount that is entered there requires a calculation which includes all of your other income. If you are not using tax software then the calculation would be done using Worksheet 1 on page 16 in IRS Publication 915 or using the worksheet on page 30 of the 1040 instructions - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

- https://www.irs.gov/pub/irs-pdf/p915.pdf

Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3,187
Experience: EA, CEBS - 35 years experience providing financial advice
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