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Get your taxes done using TurboTax
@usaroberts wrote:
I've deleted and re-entered the 1099-R and get the same result.
Could it be related to how Box7 is entered? My box 7 code number is 01....the example showed earlier in this thread showed a 07-normal distribution.
Anyway, for now its still doing the same thing....
No. (And there is no code "01" - just "1").
Code 7 means over age 59 1/1 and code 1 is under 59 1/2 that applies a 10% penalty that is eliminated of you qualify for the COVID tax treatment.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎February 28, 2021
9:45 AM