Never mind.
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Last edited by FEDUKE404; 06-02-2021, 12:52 PM. -
In case it matters, is the IRA box checked on either one?
Based on the Box 5 amount you describe, I'd say it is non-taxable.
"Box 5. Generally, this shows the employee’s investment in the contract (after-tax contributions), if any, recovered tax free this year; the portion that’s your basis in a designated Roth account; the part of premiums paid on commercial annuities or insurance contracts recovered tax free; the nontaxable part of a charitable gift annuity; or the investment in a life insurance contract reportable under section 6050Y.""You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard -
This is normal with some companies and usually the two 1099R's are for the same retirement plan. Its just easier to do two separate 1099R's; one showing the taxable portion of distribution and one showing the distribution amount that is not taxable (Box 5).Comment
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Yes, I see that now after re-reading. I would have widow check on the second company that is showing info in Box 5. There may be more funds payable. Unusual to have just employee contributions from a plan where the policyholder is deceased. Everything should have been paid out. One possibility is that the pension itself changed custodians at some point.Comment
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