DanaB27
Employee Tax Expert

Get your taxes done using TurboTax

Yes, you will enter the Form 1099-R as shown but you might want to check with your institution why they didn't report the earnings in box 2a (you mentioned you had earnings) before moving forward.

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R”

 

The Form 1099-R instructions state:

 

"If a regular contribution is made to a traditional or Roth IRA that is later revoked or closed, and a distribution is made to the taxpayer, enter the gross distribution in box 1. If no earnings are distributed, enter 0 (zero) in box 2a and Code 8 in box 7 for a traditional IRA and Code J for a Roth IRA. If earnings are distributed, enter the amount of earnings in box 2a. For a traditional IRA, enter Codes 1 and 8, if applicable, in box 7; for a Roth IRA, enter Codes J and 8, if applicable. These earnings could be subject to the 10% early distribution tax"

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