You do not claim your son's wages on your tax return. He does not have to file a tax return because he has earned below the $12,550 standard deduction, but you will have to include his income on the Marketplace Insurance interview.
This is how to post a 1099-R
- Click "Wages & Income" on the top
- Scroll down 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"
- From here TurboTax will walk you through entering your Form 1099-R
- Box 7 in this case will probably be Code 7
Once you've completed your entries press Continue at the bottom of the page.
- Continue to post the answers to the questions until you come to: How did you calculate your substitute amounts?
- Make a statement as to how you came about the numbers.
- Explain how you tried to get a 1099-R
The interview will go back on track to continue several other Questions.
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