CalSTRS Retired Educator - Winter 2007 eNewsletter

For example, if you received an overpayment in 2005 and you repaid CalSTRS in 2006, you’ll receive a letter from us acknowledging receipt of the repayment amount. Please retain this letter for tax preparation for the 2006 tax year. If, within the same year, you received an overpayment and then repaid it, the “Gross Distribution” of your Form 1099-R will be adjusted accordingly, and you won’t receive any notification from CalSTRS.

For information about how to recover repayments and how it affects your Form 1099-R, please refer to the Internal Revenue Service Publication 525, Taxable and Nontaxable Income, available from the IRS at www.irs.gov.

What if I Don’t Understand My Form?

There is help available for you in understanding the Form 1099-R from CalSTRS, the California Franchise Tax Board and the Internal Revenue Service. To read descriptions of each of the information boxes on your form review How to Read Your Form 1099-R. You can access additional information by reviewing the Frequently Asked Questions on Form 1099-R. You can also phone or e-mail us.

You may visit the Franchise Tax Board’s Web site at www.ftb.ca.gov or call 800-852-5711. You may also visit the Internal Revenue Service’s Web site at www.irs.gov or call 800-829-1040.

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