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Stop, Look & Listen: Railroad Retirement Benefits Q&A

Answers are provided by Robert S. Kaufman

Tax Forms from the Railroad Retirement Board

(Posted January 23, 2006)

Question 568: I am 65 years old. I just received Forms RRB-1099 and RRB-1099-R. My question is: which figure am I supposed to use when figuring my income tax?

Answer: You will need to use both forms in figuring your Federal income tax.

The 1099 form reports the Social Security level benefits paid by the Railroad Retirement Board (RRB). You use the data to determine the taxable amount. You enter the result in line 20b of the IRS 1040.

The 1099-R reports the pension level benefits paid by the RRB. You use the data to determine the taxable amount. You enter the result in line 16b of the IRS 1040. Remember, you must first determine the portion that is based on your contributions, then subtract that from the total pension level payments.

If your return is complicated, you may have to consult with an accountant or other qualified tax preparer or ask the IRS for help.

Important notice:

Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.

The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.

Copyright 1997-2017 Robert S. Kaufman
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