One Pension: 2 1099-R’s ?

[ownyourfuture]

Private sector pension: No COLA or any other annual adjustments.
I’ve collected since July 2015 & never received more than one 1099-R

Everything on each of the forms is identical, except for the amount.
One equals 58.33% of the total, the other, 41.67%
*Total is correct*

 

[statsman]

I received two in the year I turned 59.5. Other than the totals, the only thing that was different between the two 1099-R's was the distribution code. The two 1099-R's added up to the correct total for the year, like in your case.

Some people will get separate 1099-R's if they move to a different state in the middle of the year.

Your percentages look like 7 months on one 1099-R and 5 months on the other 1099-R.

 

[jebmke]

also can happen when they change EINs for some reason. Are the EINs the same?

 

[ownyourfuture]

I received two in the year I turned 59.5. Other than the totals, the only thing that was different between the two 1099-R's was the distribution code. The two 1099-R's added up to the correct total for the year, like in your case.

Some people will get separate 1099-R's if they move to a different state in the middle of the year.

Your percentages look like 7 months on one 1099-R and 5 months on the other 1099-R.

You solved it. I turned 59.5 in 2021. The copy with 7 months is distribution code 2, the one with 5 is code 7.

Thank You

 

[statsman]

You solved it. I turned 59.5 in 2021. The copy with 7 months is distribution code 2, the one with 5 is code 7.

Thank You

Glad to hear.

Actually, in my case, I received three pension 1099-R's for the same tax year. The first one was for California and before age 59.5. The second one was for California and age 59.5 and later. The third one was for Texas and age 59.5 and later, having moved to Texas in October of that year.

 

[rk911]

Private sector pension: No COLA or any other annual adjustments.
I’ve collected since July 2015 & never received more than one 1099-R

Everything on each of the forms is identical, except for the amount.
One equals 58.33% of the total, the other, 41.67%
*Total is correct*

is the "corrected" box checked?

 

[jpjr]

Two 1099's - Pension

My pension plan changed the administrator (company) mid-year so we did get two forms. Since I don't have a cola, I could calculate the taxes, but still had to wait until I had both 1099's so I could input the new administrator's ID. It was simply a matter of filing both documents to complete our taxes. Once I understood why the first 1099 only represented 1/3 of my pension I was able to relax and wait for the second document for our files.

 

[ownyourfuture]

is the "corrected" box checked?

None of the 'corrected' boxes are checked.

 

[jpjr]

If it is similar to my situation, with two administrators, it will not have the 'corrected' boxes checked. Each administrator is providing info for the data they have processed. For me, I know that next year I will again receive only one 1099 as the administration change is now completed.