TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 1

Solved

How do I enter a required minimum distribution from a 403(b)? Does that amount count as investment income towards the medicare net investment tax?

Forum|Forum|7 years ago
June 5, 2019
1 reply
5 views

No text available

TurboTax Home & Biz Windows

Best answer by dmertz

You enter the distribution by entering under Wages & Income (or Personal Income) -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R) the Form 1099-R reporting the distribution. Answer the follow-up questions to indicate how much of the distribution was RMD. The Form 1099-R reporting your 403(b) distribution will have the gross amount in box 1, the taxable amount in box 2a, any after-tax amount in box 5 and code 7 in box 7.

Distributions from retirement accounts are not treated as investment income. They are not included in Part I of Form 8960.

dmertzAnswer

Level 15

You enter the distribution by entering under Wages & Income (or Personal Income) -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R) the Form 1099-R reporting the distribution. Answer the follow-up questions to indicate how much of the distribution was RMD. The Form 1099-R reporting your 403(b) distribution will have the gross amount in box 1, the taxable amount in box 2a, any after-tax amount in box 5 and code 7 in box 7.

Distributions from retirement accounts are not treated as investment income. They are not included in Part I of Form 8960.