Whether you’re an experienced do-it-yourselfer or doing your own taxes for the first time, this is your place to learn and share. Here you’ll find information and resources for using H&R Block’s online and software DIY solutions. You’ll also find links to more information to assist you on your DIY journey.
02-12-2018 06:39 PM
I am using HRBlock downloaded tax program as I have done for several years. For 2016 taxes the program asked for input from Boxes 3 and 4 of the 1099-RRB and came up with a taxable amount of about 7000. Our payments from RRB were the same in 2016 as they were in 2017. The program for 2017 as for the amount in Box 5 and uses that as the taxable amount. It is about 25,000 which makes a substantial difference in our taxes. Why the change, which one is right?
02-18-2018 02:31 PM
Welcome to H&R Block community.
Box 5 of your RRB 1099 represents the taxable amount of vested benefit payments. Without seeing your RRB 1099s for years 2016 and 2017, it’s difficult to say why the taxable amount would be different. It could be due to other changes in income. Here is the IRS publication on this issue: https://www.irs.gov/pub/irs-pdf/p915.pdf
Tax Research Specialist (San Diego)