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By entering the amount on one of these lines, the program will lower the amount shown on Form 1040; otherwise,Sure-Fire will calculate the total amount of the pension received (box 1 or box 2 of the 1099R) to be taxable. If any other amount from box 1 or box 2 is excludable (other than a rollover) enter the amount on line 2 of the Exclusion worksheet.
Tags: federal,form
Calculate taxable amount on Form 1099-R
📚 What This Guide Covers
In this article, you’ll learn how to address: Calculate taxable amount on Form 1099-R.
⚠️ Before You Begin
Before you make changes, make sure you understand what form/year worksheet your client is working in.
📊 Step-by-Step Guide
There is an Exclusion worksheet located at the bottom of Form 1099-R which asks for the amount rolled over or the amount that is excludable from income tax (line 1 or line 2 of the exclusion worksheet).
By entering the amount on one of these lines, the program will lower the amount shown on Form 1040; otherwise,Sure-Fire will calculate the total amount of the pension received (box 1 or box 2 of the 1099R) to be taxable. If any other amount from box 1 or box 2 is excludable (other than a rollover) enter the amount on line 2 of the Exclusion worksheet.
❌ Common Errors
If the issue isn’t resolved, confirm you’ve linked the correct worksheet relationship.
📞 Still Need Help?
If you are having trouble, contact our support team:
Phone: 1-800-516-9442
Tags: federal,form