Deductions & credits

When you are in the screens for entering your inherited retirement distribution there is a screen that asks what your situation is for this Form 1099R.  An inherited distribution is not subject to the 10% early withdrawal penalty if you are under 59 1/2 years of age. Also check your code in Box 7.

• What do all of the codes in Box 7, Form 1099-R mean?

Here's how to enter your 1099-R in TurboTax:

1. Open (continue) return if you don't already have it open.
2. Inside TurboTax, search for 1099-R  > press enter and select the Jump to link in the search results. (be sure to use the dash)
3. Answer Yes on the Your 1099-R screen, then select Continue.
   • If you land on the Your 1099-R Entries screen instead, select Add Another 1099-R.
4. Select how you want to enter your 1099-R (import or type it in yourself) and then follow the instructions.
   • You can add up to 20 1099-Rs.
5. You will come to the screen that asks 'Do any of these situations apply to you?' Make your selection here.
6. See the image below for assistance