@s0064656 wrote:
Question on form 8519-E pertaining to Covid Distribution:
After completing form 8519-E, Sect Qualified 2020 Distributions from Retirement Plans (Other than IRAs), and transferring amount on line 11 to line 5b on Form 1040 (amount subject to tax), how does a filer transfer info from 1099R Box 7?
1099R Box 7 reflects a '1' for 'regular' distribution instead of '2' for 'exception' distribution.
Do filers using TurboTax enter 2 for the box 7 info and attach form 8519E with filing? Hope this makes sense.
If you want the tax return completed correctly for the Form 1099-R Covid-19 related withdrawal you should be using the interview in TurboTax and not trying enter directly on the forms.
The Form 1099-R is entered as received, you do not change it. If the form is in error then you have to get a corrected form from the plan administrator.
To enter, edit or delete a form 1099-R -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Scroll down to Retirement Plans and Social Security
- On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R
