- Who We Are
- Where We Stand
- Our Rights
- Our Benefits
- Our Chapters
- ADAPT Community Network
- Administrative Education Officers and Analysts
- Adult Education
- Block Institute
- Education Officers & Education Analysts
- Family Child Care Providers
- Federation of Nurses
- Hearing Education Services
- Hearing Officers (per Session)
- Occupational / Physical Therapists
- Retired Teachers
- School Counselors
- School Nurses
- School Secretaries
- Social Workers & Psychologists
- Speech Improvement
- Supervisors of Nurses & Therapists
- Teachers Assigned
- Charter School Chapters
- Other DOE Chapters
- Other Non-DOE Chapters
- Get Involved
- Career Timeline
- CTLE / LearnUFT
- Classroom Resources
- Courses / Workshops
- English Language Learners
- Job Opportunities
- Positive Learning Collaborative
- Professional Development Resources
- Students with Disabilities
- Teacher Center
- Teacher Leadership
- Teacher's Choice
- Team High School
UFT.org Home > News > New York Teacher > Retired teachers chapter news > Reporting TRS distributions on your federal income tax
If you received one or more of the distributions listed below during 2015, you are required to report the total gross amount of the distribution in box 16a and the taxable amount of the distribution in box 16b on your 2015 federal income tax Form 1040.
The gross amount of distribution can be found in box 1 and the taxable amount of the distribution can be found in box 2a of your 1099-R, which was mailed to you in January 2016.
The following are taxable distributions:
- Withdrawal of taxable excess contributions while in active service or withdrawal of taxable excess in retirement;
- Taxable loan amount at retirement;
- Defaulted loans;
- The taxable portion of your retirement allowance from the Qualified Pension Plan;
- Your total annuity payments for the year from the Tax-Deferred Annuity Program;
- Your total withdrawal from the TDA Program during the calendar year, including the refund of contributions after retirement and/or your minimum required distribution (MRD).
If the code in box 7 is 1 or L1, your taxable amount from box 2a is subject to an additional 10 percent tax. If your taxable distribution is subject to an additional tax, then multiply the taxable distribution by 10 percent and enter the result on line 59 of the tax Form 1040 and you do not have to file Form 5329.
You should contact your tax adviser for assistance in determining if your taxable distribution is subject to the additional 10 percent tax.
If your pension annuity is partially taxable and your Form 1099-R does not show the taxable portion, you must use the general rule to figure the taxable portion. The general rule is explained in Publication 939. To obtain forms or publications, call the Internal Revenue Service at 1-800-TAXFORM (1-800-829-3676).
What is your favorite movie about a teacher?
Dead Poets Society
Stand and Deliver
Mr. Holland's Opus
Total votes: 642