No, if your 1099-R shows $0 in box 2 and "6" on box 7, it won't be taxed.
You do have to enter the 1099-R in your tax return. This is how to do that:
- Open your return select Federal then Wages and Income.
- Find IRA, 401(k), Pension Plan Withdrawals (1099-R), on the list, click Start to the right.
- Answer the first question Yes.
- Click Continue.
- At this point you can import your 1099-R, if it is from one of our partners or,
- Scroll down the bottom and select, Change how I enter my form.
- On the next screen, select Type it in myself, in the lower right corner.
- Select 1099-R on the next screen and click Continue.
- Enter your 1099-R on the next few screens.
- Answer all of the follow up questions.
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