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Does turbo tax home & business create 1099-R?

 
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5 Replies
DaveF1006
Expert Alumni

Does turbo tax home & business create 1099-R?

No, a Turbo Tax Home and Business cannot generate a 1099R.  Only W2 or 1099 MISC. 

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Does turbo tax home & business create 1099-R?

Why do you need to create a1099R?  The plan trustee does that.  You as an individual do not.

Does turbo tax home & business create 1099-R?

Only a registered Financial Institution can "create" a 1099-R.

 

If you *have* a 1099-R then enter it this way - otherwise explain what yiu are asking.

 

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Does turbo tax home & business create 1099-R?

Needing to make a 1099 R because a person is retired from his own company and needs to create one instead of making a paper form every year. That would be one of the reasons

Does turbo tax home & business create 1099-R?

Again the financial institution that is the trustee for the retirement account issues the 1099-R.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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