After you entered your 1099-R TurboTax will ask you follow-up questions. Please answer the question "Owned Any Roth IRA for Five Years?" and the questions after carefully.
Please follow these instructions to enter your Form 1099-R :
- Login to your TurboTax Account
- Click "Federal" from the left side of your screen
- Click "Wages & Income" on the top
- Scroll down and click "Start or Edit/Add" next to "IRA, 401(k), Pension Plan Withdrawals (1099-R)"
- Answer "Yes" to the question "Did You Have Any of These Types of Income?"
- Click "I'll Type it Myself"
- Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
- Click "Continue" and enter your 1099-R
- Continue through the questions
Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount).
To preview Form 1040:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
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