Retirement Tax Tips and Answers | TurboTax® Support

In which state should the estate tax return be filed?

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Filing a Final C-Corp Return

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How to input 1099-R on PA-41 as Estate

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How to enter 1099-R on PA-41 as Estate

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Estate and Trust Filings with partial distribution

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Amount distributed is more than trust accounting income

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Overcontribute SEP IRA

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How do i enter IRA Rollover Form 5498

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Excess 401K contribution because of job changes in 2018?

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27 Replies 655 Views

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Cost Basis Reported

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14 Replies 220 Views

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Solo 401(k) - exempt from which taxes?

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3 Replies 78 Views

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How do I import my completed 8824 tax form into TurboTax Business?

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Life Insurance Payouts to Estate

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2 Replies 90 Views

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solo-401k- Turbo Tax Business

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RMD

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Where do you enter FSA 1099G Agriculture on Turbotax business

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5 Replies 142 Views

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What is the difference between 1st & 2nd tier on a 1041 distribution??

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Profit sharing plan is not an option in "Any Retirment Contributions"

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6 Replies 254 Views

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I'm the executor of an estate and received a 1099-R with "4G" distribution code in box 7. How do I file a 1041 as TT Business doesn't allow entering 1099s?

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14 Replies 7965 Views

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Where do I enter Employee 401K contribution on form 1120

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Rollover IRA & Roth IRA

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Using TTax Business for Trusts: How do I enter a futures 1099-B which has information in boxes 8 to 11? TTax assumes boxes A, B, D, E or X.

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3 Replies 449 Views

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Early Withdrawal from Roth IRA Older than 5 Years Including First-Time Home Exemption

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25 Replies 934 Views

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How to enter 1099r income for a 1041 estate return in TurboTax Business?

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9 Replies 2963 Views

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SEP Contribution to none partner employee

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3 Replies 188 Views

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401k distribution 55+

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2 Replies 253 Views

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If a beneficiary is not named for an IRA or an Annuity and the total lump sum distributions goes to their estate does the estate pay the taxes due on that income?

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Why is the distribution for estate trust not showing on K-1 1041?

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17 Replies 9983 Views

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Entering 1099 R for a Trust

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28 Replies 5228 Views

28 Replies

5228 Views

How do I report my LLC's Contribution to my Solo 401k in turbo tax business 2021?

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275 Views

For cash basis accounting can I account for the cost when I write a check, or does it need to be accounted for when the check clears the bank?

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7 Replies 12270 Views

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Value of Traditional IRA question and Rollover IRAs

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3 Replies 80 Views

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Why won't TurboTax fill in a value for Form 1041 line 20, estate exemption?

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IRS publication 525 advised e a military disability rating of 20% or higher is eligible to recoup money deducted from their retirement pay for previous years. How?

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Inherited IRA trust

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Reporting Roth Contribution

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Salon Te’ Elle Ce’s EIN Number

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2 Replies 318 Views

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When to file form 5329 for missed 2016 RMD?

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Simple Trust distribution to beneficiaries. Turbo tax will not allow ALL income to be distributed and showing the Trust to pay income taxes. How do I fix this problem?

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4 Replies 914 Views

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Cant e-file my taxes because of disaster distribution form that was released feb 26th

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Estate Income Tax 1041 - Estate Income generates K1

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1099 R for inherited 401K?

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1099R on Estate Return

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How do i enter a 1099r in turbotax business

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1099-R code B2 error

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TurboTax 2020 Error: Doesn't Properly Handle 1099Rs for IRA Distributions That Were Redeposited

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Is an income distribution deduction required on a final 1041 or can the estate pay the entire tax owed?.

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401k Nonelective Contributions (profit sharing) as S-Corp

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Are Health insurance premiums and SEP IRA contributions included in W-2's Box 1, 3, and 5 as Taxable Wages for "LLC - Filing as Chapter S" Employees > 2% owners?

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how rollover IRA impact my back door to Roth

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Should I request a corrected 1099-R with a code M1. I quit my job but I paid off the loan. What should I do about the penalty?

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How to deal with rounding differences between TurboTax and bookkeeping?

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Inherited IRA was moved to a trust and then to the beneficiaries. 1099-R shows Estate as recipient of IRA. How do I report the distribution to the beneficiaries?

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Teacher retirement income from KS/OK/TX, now residing in Arkansas

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3 Replies 529 Views

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Double-taxed Nondeductible RMDs from Estate IRA

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S-Corp Employer 401(k) Contribution

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I am using Business version for trusts and estates. I have 3 1099R forms for annuity distribution. How do I report these?

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Retrive 1099 Quick Employer Forms Online from 2016.

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Monthly pension payment received after date of death & 1099

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Does a "real estate professional" over 200k qualify for a self directed 401k deduction on form 1065 Schedule K for

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Complex Trust - Sec 663b Record Keeping

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Can I claim the taxes paid on form 990-T on my form 1040, otherwise, won't I pay tax a second time on the 990-T UBTI when I take the IRA distributions?

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Contribution to a traditional IRA then immediately converted to ROTH for 2016 tax year. 1099-R showing taxable distribution of $6500. Can I file 2016-Form 8606 now?

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How do I categorize 401k deductions on my business tax return?

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I borrowed some money to a friends business, do i have to report that on my deductions? Also some of the money borrowed it was lost

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What amount do I enter in the amount distributed to the beneficiaries? I do not have a tier 1 and tier 2 guestion, just says ‘enter the amount distributed.

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IRA withdrawals while unemployed age 59 but taken in the year I will turn 59 1/2, am I subject to the 10% penalty?

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520 Views

Don't understand persistent shareholders distribution error. my s corp only has 2 owners husband 49% and wife 51% which i've verified are correctly inputted everywhere

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How to determied payroll taxes: are the sum of all IRS form of 941 & 940 & EDD for state taxed that report each quarter?

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I live in California. I get retirement and social security with no state taxes taken out. Do I need to file a state tax return?

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How may I correct a wrongly reported non-dividend distribution error on my 2016 taxes?

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Should payroll taxes be listed in the 1120-S p1-2 Box C1? If so what should be listed? Federal Income, Social Security, Medicare; and State Income Tax Witheld? S Corp

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Does a business list 401k contributions as retirement compensation to the employee, i.e., would they be listed as retirement cost

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Do we have to pay a 10% penalty? My wife turned 55 in July 2017 and laid off October 2017. We cashed out her 401K. What about the Age 55 Rule?

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I am 76 and have taken my RMD for 2017. Is there any way to avoid taxes on that withdrawal?

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2 Replies 640 Views

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Q: W2 box 11 is blank, is this a deferral or distribution?

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How do I avoid paying a penalty on an $185,000 Roth IRA distribution we received a 1099-R for. It was a short term loan to our son and was paid back in less than 60 days

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This is the second time to ask this question regarding 1065 page 5 and analysis of net income. This will not calculate for me. Is there a fix needed?

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How do I make TT report a corpus distribution from a complex trust without an income distribution?

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How do you get a distribution from a trust that exceeds income to flow to the K-1?

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Do I report a 1099-R for an inheirited non-spousal IRA?

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Can and how do I roll-over all 2015 data to year 2016?

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If I didn't receive a 1099-C should I still claim the income from a cancelled debt?

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Earnings reported on 1099-Q (box2) are being treated as taxable income for beneficiary even when entire distribution was paid directly to University for QTP

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Can my son avoid part of the penalty for cashing in ira as a first time home buyer if he used part of the money to pay mortgage after losing job?

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1 Reply 578 Views

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Turbo Tax 2015 Business - Form 1041 How Much Was Distributed to Each Beneficiary - Is this the cash distributed or the amount in Income Distribution Deduction?

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1 Reply 878 Views

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878 Views

One member of the LLC is a trust using member's social security no. Program looking for a FEIN. Used SSN 's last year with no problem

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1 Reply 603 Views

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My mom died in Dec '15. Distributions were made from an IRA & annuity in early 2016. Where do I input 1099-R distributions in her name on Form 1041? In "Other Income"?

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Our son has Military retirement/VA disability pay only, does he qualify for EIC?

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1 Reply 632 Views

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632 Views

My wife is a realtor and recevied a 1099 what from is used to make sure she gets credit for social security

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1 Reply 490 Views

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490 Views

In California, does the $800 annual tax payment, due in Q1, count toward the 1.5% tax liability for S-Corps? Or, is it in addition to the 1.5% tax rate?

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2 Replies 1244 Views

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Where do I find trust (irrevocable and complex) distribution amount made to a beneficiary?

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7 Replies 1661 Views

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1661 Views

" "Deceased mother's trust received 1099R but need to process k-1 forms to pass through to heirs. How do I do this? Should we have received a different form from Payer?"

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1 Reply 598 Views

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598 Views

Why does my 1099-R not show insurance premiums that we pay that come out of my retirement check?

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1 Reply 805 Views

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805 Views

Where do i enter my 1099r RMD for 1041 form, trustee account. I have delayed cashing that in for 2018. I don't seem to have access to 1099R form

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2 Replies 911 Views

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911 Views

Is TurboTax QBI deduction incorrect for sole proprietor with solo 401K contribution? Recent IRS guidance suggests that QBI is calculated before solo 401k contribution.

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13 Replies 5140 Views

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5140 Views

I finished my federal tax however turbo tax added my state exempt pension as income on the state tax how do i correct it?

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1 Reply 576 Views

1 Reply

576 Views

Are financial advisor fees that are shown on a 1099 deductible by a trust under the new tax law? I know they used to be deductible in prior years.

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1 Reply 779 Views

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779 Views

Can I deduct repayments to my retirement account for purchased service credit

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1 Reply 477 Views

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477 Views

Will turbotax allow a "what if" scenario for determining 2018 taxes. Can I roll money from anIRA to a Roth IRA, what will be the consequences for moving amounts of money.

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1 Reply 703 Views

1 Reply

703 Views

I received a 1099r for a distribution from an insurance policy that I paid into for roughly 60 yrs, the amount of the distribution is less that I paid.

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8 Replies 2863 Views

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2863 Views

I received a 1099-misc for a life insurance benefit. Does this mean that it is a taxable benefit? do I need to report it on my taxes if it is not taxable?

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1 Reply 626 Views

1 Reply

626 Views

Rdm does not match1099-r

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1 Reply 654 Views

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654 Views

Turbo tax is now showing that distributions from a trust are taxable, why?

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1 Reply 439 Views

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439 Views

Is there a limit to rollover amount from solo 401K to IRA ?

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6 Replies 5397 Views

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5397 Views

Is the allowable $32,000 if married filing jointly line 8 social security benefits worksheet or is it $44,000

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1 Reply 820 Views

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820 Views

How do I find the lump sum payment for social security in a previous year. It is supposed to be less than zero. How can that be? I cannot file my taxes because of that

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5 Replies 1489 Views

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1489 Views

Do I include the distributions listed on the K-1s provided to members as part of last year's tax return when recording "cash distributions member received from LLC"?

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1 Reply 869 Views

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869 Views

Do you report employer contribution to a self employed 401K on the w-2 form,

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1 Reply 578 Views

1 Reply

578 Views

Can I deduct IRA contributions if I am self-employed, but also receiving payments from a previous employer's retirement plan?

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2 Replies 1045 Views

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1045 Views

Where does member contribution show on tax return form?

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2 Replies 2552 Views

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2552 Views

Ira contribution prior year. IRA contribution made 2015 not reported on 2015 taxes, can i use it for 2016?

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1 Reply 452 Views

1 Reply

452 Views

Depreciation reduces my taxable income I know. But can I withdraw the depreciate amount in cash without tax consequence

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1 Reply 643 Views

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$3742 SHOWING UP IN "OTHER INCOME TAXES". WHEN I GO TO EXTENSION PAYMENTS I ANSWER THE QUESTION NO. AND IT TAKES ME BACK TO YES OVER AND OVER.

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1 Reply 462 Views

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462 Views

Is there a total amount that can be in a roth ira? The question is not related to yearly contributions.

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1 Reply 521 Views

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521 Views

Is there a reason line 4a on the tax return would be different than the 1099R summary?

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4 Replies 1932 Views

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1932 Views

Does the Q on 1099-R about what did I do with the money from pension, apply to me as the spouse of disabled RR employee? Is 'did something else with it', correct?

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2 Replies 476 Views

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476 Views

I contribute to a Roth 403b with AFTER tax dollars. Can I deduct this somehow?

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1 Reply 742 Views

1 Reply

742 Views

I withdrew from IRA's and reinvested the majority back into CD's. Where do I enter this to eliminate the taxes owed?

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1 Reply 449 Views

1 Reply

449 Views

I'm considering rolling a traditional IRA to a Roth, and I want to do an ESTIMATE of the tax impact. How do I fill out a fake 1099-R?

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7 Replies 1204 Views

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1204 Views

I dont have this Retirement Savings Contribution Credit

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2 Replies 839 Views

2 Replies

839 Views

How to report 1099R income received by a special needs trust

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1 Reply 1053 Views

1 Reply

1053 Views

If an investment owned by an estate is split between beneficiaries, how do you pay the tax on the change in value between the date of death and the distribution date?

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1 Reply 429 Views

1 Reply

429 Views

I try to enter my 1099-G State Refund amount but get error "Already Entered" however nothing appears on Line 10 of my 1040 form. I did enter it as paid estimated tax.

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8 Replies 1691 Views

8 Replies

1691 Views

Where can I find blank form 1099-S? [removed]

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1 Reply 651 Views

1 Reply

651 Views

S corporation that only made shareholder's distribution. No W2 or 1099 filed. How do I report that distribution as income on my 1040.

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1 Reply 1645 Views

1 Reply

1645 Views

My son got 1099 for $1170 does he have to file taxes?

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4 Replies 663 Views

4 Replies

663 Views

I received 2 1099s for withdrawal from my IRA account (this was for the same withdrawal)- they have two different Federal ID numbers and different distribution amounts

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1 Reply 1399 Views

1 Reply

1399 Views

1099R isn't reflecting amount I returned/rolled over. How do I report that to get my withholding back?

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5 Replies 1278 Views

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1278 Views

My sister took a distribution from our trust. I did not. Can we keep the income in the trust and report the distribution as a principal reduction?

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1 Reply 414 Views

1 Reply

414 Views

Last date in 2018 to make a distribution from a trust that will count for 2017

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1 Reply 861 Views

1 Reply

861 Views

Can you explain why the program will not keep the selected response? The question asked if this pension was from being a public safety officer and I replied yes.

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1 Reply 682 Views

1 Reply

682 Views

Is a 2018 1099 miscellaneous income, 2019 income, since we did not get the income till 2019 since it was mailed on 12/31/2018?

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1 Reply 541 Views

1 Reply

541 Views

Are stocks transferred to the heirs considered a distribution that should be reported on the estate taxes and K-1?

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1 Reply 569 Views

1 Reply

569 Views

If I was appointed Successor Trustee of my deceased Mother's Trust during 2015, do I need to file form 8822-B with form 1041 to report the change in Trustee?

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1 Reply 1012 Views

1 Reply

1012 Views

Should I show the distribution of $6000 in 2016 tax return if we already paid taxes on it in 2015?

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3 Replies 776 Views

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776 Views

How to: Report the following payroll-related expenses: - Employer's portion of Social Security and Medicare taxes - FUTA - SUI

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1 Reply 594 Views

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I have a 529 for my grandson. When I record the info from the 1099-q TT picks up taxable income. Why?

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1 Reply 467 Views

1 Reply

467 Views

Three Form 1099

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1 Reply 704 Views

1 Reply

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Foreign retirement income with no 1099-r what do i type in for payer's id on 1099-r.

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1 Reply 1305 Views

1 Reply

1305 Views

1099 Form Late. Haven't sent Form 1009 to my child's babysitter for $6,100. Should I send it now (March 30)? What if I don't send it at all?

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3 Replies 705 Views

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705 Views

Am I required to claim someone as a dependent if over age 18 if they qualify as one? I get no benefits for doing so it seems, but my daughter would benefit

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1 Reply 359 Views

1 Reply

359 Views

I'm filing a family trust (both orig Trustees have passed) return and have some 1099R's to enter. I can't find where to enter the taxable income in the return.

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1 Reply 464 Views

1 Reply

464 Views

I started a pension plan for my llc-where do I claim my cost to set up plan

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1 Reply 638 Views

1 Reply

638 Views

How do I list deceased parent's former revocable grantor trust in TurboTax?

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1 Reply 2606 Views

1 Reply

2606 Views

2 person LLC partnership. I am an active member, my wife is a passive member. I have a 401k. What are retirement plan and employer match contribution limits?

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2 Replies 1805 Views

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1805 Views

Filing estate income tax in tubro tax business. I have a 1099-R from 401K distributions to the Estate. Where do I enter this income, I see nothing for entering 1099-R

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2 Replies 1060 Views

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1060 Views

Do you have to pay taxes on a loan from your retirement plan or just the 10% penalty if under the age of 59 1/2

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1 Reply 443 Views

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Is accumulated post-tax testamentary trust income reported on the k-1 as income to the beneficiary?

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Understanding Maximum 401k Contributions

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