1. Money

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Pensions and Annuities

Line 16

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Line 16: Pensions and Annuities

  • Gather all your 1099-R statements from each bank, mutual fund, or retirement plan for the year.
  • 1099-R statements report distributions from various retirement plans.
  • Separate 1099-R statements into two piles: those received from your IRA, and those received from your pension or annuity plans.
  • Report your IRA distributions on line 15. Report your pension and annuity distributions on line 16.
  • Using the Simplified Method Worksheet on page 23 of the Instructions for Form 1040 (PDF), calculate your nontaxable (line 16a) and taxable (line 16b) amounts.

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