← CompareHome

Comparison

SSA-1099 vs IRS 1099-R: how to read your retirement tax forms

Retirees often receive both. Knowing which one means what saves trouble at tax time.

SSA-1099

Sent by the Social Security Administration each January. Reports the gross Social Security benefits paid to you the prior calendar year, plus Medicare premiums deducted, plus voluntary federal tax withheld. The Box 5 net amount is what you enter on Form 1040 line 6a.

1099-R

Sent by the payer of your pension, IRA, 401(k), or annuity distribution. Reports gross distribution (Box 1), taxable amount (Box 2a), federal income tax withheld (Box 4), and the distribution code (Box 7). Goes on Form 1040 lines 4 (IRA) or 5 (pension).

What is included where

The order things stack up on Form 1040

Line 4 (IRA distributions), Line 5 (pensions and annuities), Line 6 (Social Security benefits with worksheet for taxable portion). Each line's taxable amount feeds into total income. Then the standard deduction or itemized deduction comes off, then tax brackets apply.