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- My client received a 1099-R as a government retiree. Why is the taxable portion being reduced due to Box 5?
My client received a 1099-R as a government retiree. Why is the taxable portion being reduced due to Box 5?
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AdrianeD
Level 3
03-16-2022
01:49 PM
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My client received a 1099-R from a government retirement account. Box 5 Employee Contributions/Designated ROTH Contributions and Insurance Premiums shows an amount. "PSO" shows next to the amount on the 1040 line 5b and the taxable portion is being reduced. He is not a retired public safety officer. Why is the taxable amount being reduced? Is this a programming issue??
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dkh
Level 15
03-16-2022
03:25 PM
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Is this a new 1099R entry or one that carried forward from 2020? Have you double checked all your entries for the entire worksheet ?
