I helped someone else get their inherited nonqualified annuity through so the steps should work for you. Before you start:
- Delete the 1099-R
- Clear cache and cookies
- Change the browser you are using
Your 1099R should have box 7 with a code D for nonqualified annuity. Box 7 does not need code 7. Code 7 is for regular distributions like a 401k. If it isn't on your form, take it off. See Table 1. Guide to Distribution Codes.
Let's go through the steps:
- Open your return to the federal income
- Select the 1099-R and edit
- taxable amount -if box 2a has no amount or needs to be determined, the program will ask about cost basis. If 2a has a number and you select to use it, the program will not ask about the basis.
- continue to Enter the form,
- No Public Safety Officer
- Age of person - before of after Jan 1, 1952.
- select no or yes
- select 403b plan - I know it's wrong, we just want the forms to be right
- RMD, enter zero - another bad answer since there is no RMD but should make the program work
- continue
Reference: Publication 575 (2023), Pension and Annuity Income
If this fails, you can switch to the desktop version. You can go into forms mode and force the correct handling. It's pretty easy to do. Your software moves your .tax file and you pick up where you left off. See How do I switch from TurboTax Online to the TurboTax software?
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