The annuity was before "Dec 31, 1997" or not? What does that mean?

Forum|Forum|11 months ago
April 10, 2025
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While I filling data for 1099R, why the system asked me whether the annuity was before "Dec 31, 1997" or not?

What does that mean?

Usually what is plan type for 1199SEIU? A qualified Gov Pension Plan? Is that taxable?

Where can I check "last year you used standard deduction or itemized deductions"?

Thanks

TurboTax Free Edition Online

AmyC

Tax laws changed on that date so the program needs to know which laws to use.
The 1199 SEIU is an umbrella of healthcare.
A government pension plan is taxable to the federal and might be taxable to the state.
Look at last year's tax form 1040, line 12. If it matches the standard deduction listed, the standard was taken. Otherwise, you will see a Sch A for itemized deductions as part of your return.

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MythSaraLeeAuthor

"A government pension plan is taxable to the federal..."

So the 1199 plan is a kind of funds by healthcare-insurance?

Is that plan-type similar with the government pension plan?

"form 1040, line 12..." Thank you!

Usually does the standard deduction include the EIC term?

Vanessa A

No, they are not funds for healthcare insurance, it is funds coming from a union that covers healthcare workers. It does not appear as though it has anything to do with the government. This is for healthcare workers, not federal employees.

The 1199SEIU Funds began with the Local 1199 Benefit Plan. Formed in 1945, its goal was to provide basic health, disability and life insurance benefits to just 300 New York City retail drugstore workers with employer-paid contributions. In 1948, the Benefit Fund became self-insured and self-administered. Since then, the Fund has continued to grow, providing the infrastructure to support additional benefit funds that provide coverage for healthcare workers throughout the industry in hospitals, nursing homes and home care agencies.

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