Taxes and Your TCDRS Benefit

Your IRS 1099-R form tells the IRS how much money TCDRS sent you the previous year and how much was withheld for taxes. If you are a retiree or withdrew your account balance during the year, you will need this form to fill out your income taxes.

TCDRS posts your 1099-R to your online account and mails you a paper copy by Jan. 31. If you receive payments from multiple TCDRS accounts, you’ll receive a 1099-R for each account.

For more information on how to read your 1099-R, view this helpful PDF.

 

Changing Your Withholding:

Each year, the IRS updates the federal income tax tables to adjust for inflation. It’s always a good idea to review your withholding each year to ensure you are withholding enough to cover your taxes.

In addition, the IRS has issued a new withholding form that changes how tax withholding is calculated. This new calculation makes the amount of your withholding more accurate for your tax situation. Keep in mind that you don’t have to update your withholding because of this new calculation. However, when you do, you’ll notice the difference in your online withholding designation.

You can start, stop or change your tax withholding online at any time. Sign into your account at TCDRS.org and click “Edit Withholding” at the bottom of your Account Summary card.

FAQs

Can I file my taxes before I get my 1099-R in the mail?

The IRS will accept a printout of your TCDRS 1099-R for your paper-filed tax return. If you receive payments from more than one TCDRS account, you will need to print a 1099-R for each account.

When will I receive my 1099-R?

For each TCDRS account you received a payment from in 2023, TCDRS will post a 1099-R to your online account and mail you a paper copy by Jan. 31. TCDRS cannot confirm when the postal service will deliver your printed 1099-R. If you’ve moved in the past year, make sure you have a forwarding order in place with the U.S. Postal Service, so your 1099-R may be forwarded to your new address. You can also make sure we have your most up-to-date address by signing into your account at TCDRS.org.

Can you email me a copy of my 1099-R?

No, TCDRS cannot email copies of 1099-R forms. You can download a copy of your 1099-R by signing into your account at TCDRS.org and selecting it from the Documents box.

If you have not yet accessed your online account, it is easy to register. Navigate to TCDRS.org and click “Register” in the top right corner. Be sure to have your TCDRS account number handy. If you need your account number, please call TCDRS Member Services at 800-823-7782 for help.

I have worked for multiple TCDRS employers. How can I find a 1099-R for each account?

Every TCDRS account you received a payment from in 2023 will be issued a unique 1099-R. Sign into your account at TCDRS.org to access the 1099-Rs for each of your TCDRS accounts from your account summary page. Then, click on the1099-R you wish to view in the Documents box.

Why does my 1099-R have an amount in Box 5 when I did not make Roth or insurance premium contributions last year?

Box 5 shows the amount of your gross income from TCDRS that is not taxable for 2023. This is the part of your benefit you have already paid taxes on. If you made any after-tax deposits to your TCDRS account — for example, regular deposits you made before 1986 or through a buyback of service time — then you do not have to pay taxes on that part of your benefit. This nontaxable portion of your benefit is listed in Box 5.

Where can I get previous 1099-Rs?

You can download the last two years of your 1099-Rs by signing into your account at TCDRS.org and selecting them in the Documents box.

TCDRS keeps copies of 1099-Rs dating back to 2014. If you need 1099-R information for years prior to 2014, please contact the IRS to request your tax record.

Where can I get help preparing my taxes?

TCDRS cannot offer tax advice. For tax help, we recommend contacting a tax expert. The IRS also offers a free withholding calculator at IRS.gov.

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