The main difference between RRB-1099 and RRB-1099-R is what portions of taxable income they pertain to. One form, RRB-1099, deals with the taxable social security portion of your railroad benefits, while the other form, RRB-1099-R, deals with the taxable pension portion of your benefits.

What is the tax rate on railroad retirement?

6.20 percent
The railroad retirement tier I tax rate is the same as the social security tax, and for withholding and reporting purposes is divided into 6.20 percent for retirement and 1.45 percent for Medicare hospital insurance.

What do you need to know about Form RRB-1099-R?

Form RRB-1099-R reports the total gross payments, repayments and the related U.S. Federal income tax withheld from the Non- Social Security Equivalent Benefit (NSSEB) portion of tier I, tier II, vested dual benefit (VDB), and supplemental annuity payments. Form RRB-1099-R is used for U.S. citizens.

When to use box 1 on a 1099-R?

You must use the General Rule explained in IRS Publication 939 to calculate the taxable part of Box 1 on your 1099-R if no taxable amount is listed in Box 2A so the correct amount of taxable income is listed on line 16b of Form 1040.

What is the contributory amount on Form 1099-R?

Box 4 – Contributory Amount Paid – An amount in this box is the gross amount of any NSSEB and tier II benefits paid in the tax year indicated on the Form RRB-1099-R, less any NSSEB and tier II repayments made in that tax year and are attributed to that tax year.

What are the instructions for filing a 1099-R?

Specific Instructions for Form 1099-R File Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., for each person to whom you have made a designated distribution or are treated as having made a distribution of $10 or more from profit-sharing or retirement