Which form is used to report pension income to the recipient?

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The form used to report pension income to the recipient is the 1099-R. This form specifically focuses on reporting distributions from pensions, annuities, retirement plans, IRAs, and other types of retirement accounts. When a taxpayer receives pension payments, the issuer of those payments, such as a pension plan or retirement fund, will provide them with a 1099-R form detailing the amount distributed during the year.

This form includes critical information, such as the gross distribution amount, any taxable amount, and federal tax withheld, allowing individuals to accurately report their pension income on their tax returns. The 1099-R ensures that recipients are informed about their retirement income, which is essential for the tax reporting process.

Other forms listed have different purposes. For example, the SSA-1099 is used to report Social Security benefits, while the W-2 is used by employers to report wages paid to employees. The 1040 is an individual income tax return form used to report overall income, deductions, and credits but does not specifically report pension income on its own.

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