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Income reported from 1099-R asking if it is "Qualified" or "Non-Qualified"
I have a 1099-R for Retirement income. The box between field 7 and 8 called IRA/SEP/Simple is not checked, so Turbo Tax is asking me if the plan is "Qualified" or "Non-Qualified" I don't know how to answer this question.
The money comes from an annuity that my employer arranged for me when I retired, where I choose to receive the benefit as monthly payments instead of a lump sum retirement benefit. The money and 1099-R comes from JP Morgan Chase bank but it also lists my company benefits center in the 1099-R Payer's box.
‎February 18, 2022
10:04 AM