Our 1099R Tax Forms typically aren’t available until the end of January by regular mail. Registered users of OPM’s Retirement Services Website  can download their 1099R now. I visited the site on January 22, 2020 and download my copy early to use with my 2019 tax return. Last year the 1099Rs were available for download on the 18th of the month.
You must be registered to use their site. If you aren’t registered read the article titled “Connect to OPM’s Online Services”  to understand the registration process and sign up. It doesn’t take long to sigh up. However, you may have to wait for your password to be sent via regular US mail and that can take several weeks. Many banks and brokerage house’s 1099-INT, DIV and B reports are also available online for download early. Treasury Direct doesn’t send out print copies. You must download your Treasury’s OID and 1099 INT statements from your online account. If you have complex investments, your brokerage statements could be delayed until mid-March or later.
I’ve personally used TurboTax software for decades with success. It’s intuitive and walks you through the entire process, double checks your work, and they allow you to file online. This software can also download and integrate your brokerage statements into your tax return, saving considerable data entry time. There are a number of free online filing services available through the IRS and several of the tax preparation services. The IRS allows you to file online at no cost  if your annual income is less than $69,000. You will have to file your State tax return separately. Turbo Tax offers free online tax preparation  and submission of both your Federal and State returns for simple returns.
Take advantage of OPM’s 1099R online availability if you wish to file your taxes early or simply need to replace a lost 1099R.
Request a Federal Retirement Report
Retirement planning specialists provide a comprehensive Federal Retirement Report™ including annuity projections, expenditures verses income, with a complete benefits analysis. This comprehensive 27-page benefits summary will help you plan your retirement.
Find answers to your questions: The best time to retire, retirement income vs expenditures, FEGLI options and costs, TSP risks and withdrawal strategies, and other relevant topics. Determine what benefits to carry into retirement and their advantages. You will also have the opportunity to set up a personal one-on-one meeting with a CERTIFIED FINANCIAL PLANNER.
Helpful Retirement Planning Tools / Resources
- 2020 GS Pay Scales 
- Retirement Planning For Federal Employees & Annuitant 
- The Ultimate Federal Employee’s Retirement Planning Guide 
- Financial Planning Guide 
- Budget Work Sheet 
- Medicare Guide 
- Master Retiree Contact List  (Important contact numbers and information)
- 2020 Leave and Schedule Chart  (Excel chart tracks all leave balances. Use this chart to set target retirement dates.)
- Annuity Calculator (FREE Excel chart estimates annuity growth)
Disclaimer:Opinions expressed herein by the author are not an investment or benefit recommendation and are not meant to be relied upon in investment or benefit decisions. The author is not acting in an investment, tax, legal, benefit, or any other advisory capacity. This is not an investment or benefit research report. The author’s opinions expressed herein address only select aspects of various federal benefits and potential investment in securities of the TSP and companies mentioned and cannot be a substitute for comprehensive investment analysis. Any analysis presented herein is illustrative in nature, limited in scope, based on an incomplete set of information, and has limitations to its accuracy. The author recommends that retirees, potential and existing investors conduct thorough investment and benefit research of their own, including detailed review of OPM guidance for benefit issues and for investments the companies’ SEC filings, and consult a qualified investment adviser. The information upon which this material is based was obtained from sources believed to be reliable, but has not been independently verified. Therefore, the author cannot guarantee its accuracy. Any opinions or estimates constitute the author’s best judgment as of the date of publication, and are subject to change without notice. The author explicitly disclaims any liability that may arise from the use of this material.
Last 5 posts by Dennis Damp
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