Pension income?

I need to set the right tax line (1040, 16b) for my Pension income in Quicken. It doesn't seem to appear in the pick-list. Can someone tell me how to do it?

Reply to
Stubby
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Report it on the 1099-R (isn't that the "official" notice that you receive?). It will flow to the 1040. There's several options for the

1099-R under the "extended options" grouping.

db

Reply to
danbrown

He's talking about Quicken and it sounds to me like you're talking about TurboTax, Dan.

Reply to
DP

I gave the gross pension income the Category of Salary:Pension Income and assigned it to the Tax Line Item - 1099-R Total Pension taxable dist. (Tax item explanation - The taxable amount of a distribution from a qualified pension or annuity plan. Do not include IRA distributions here.)

The above Tax Line item is available in the Standard List. With that assignment it transferred into TT and the 1040 line 16b. In the Edit Category box for your pension category, you did check Tax Related didn't you? :)

Reply to
Disciple

In the Quicken "Category List", there's a check box for "Tax", and then you select the tax line item.

He was, apparently, looking solely at the "Form 1040" options, instead of the "Form 1099-R" options that are further down the selection.

db

Reply to
danbrown

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