Zinged by a 1099-R? Ouch!

[Out-to-Lunch]

My DW and I both have pensions from the same previous employer. This year, she got her normal 1099-R, and I got two of them I then noticed that one was for exactly 2/3 of the annual distribution, and the other was for 1/3, down to the penny. Okay, no big deal, I guess, I will just put them both in Turbotax, but kinda strange.

Fire up TT, edit last year's 1099-R entry to cover one of the two for 2023. Enter the second by hand... Only then did I notice they had different distribution codes. Seems I "graduated" from "Early distribution, exception applies" to "Normal distribution." Ahh, yes, I turned 59.5 one-third of the way through the year.

I never thought I could be taunted by a 1099 form!

 

[statsman]

Been there, done that. In fact, I ended up with three 1099-Rs for my pension in the year I turned 59.5. We moved that year, so the state changed, requiring a separate 1099-R prior to turning 59.5.

 

[marko]

OTOH, it's kind of comforting that some computer out there is keeping track of all those details for you isn't it?

Without it, at your age you could really mess things up!

 

[GrayHare]

Interesting how half years are important at age 3.5 and again during retirement.

 

[Out-to-Lunch]

Been there, done that. In fact, I ended up with three 1099-Rs for my pension in the year I turned 59.5. We moved that year, so the state changed, requiring a separate 1099-R prior to turning 59.5.

Now there is some paperwork!

OTOH, it's kind of comforting that some computer out there is keeping track of all those details for you isn't it?

Without it, at your age you could really mess things up!

Interesting how half years are important at age 3.5 and again during retirement.

That is hilarious and true!