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Deductions & credits
If this distribution is truly from a traditional IRA, the IRA/SEP/SIMPLE box must be marked on the 1099-R. Only distributions from an IRA can be an HFD, so online TurboTax will not present the box needed to indicate an HFD if the distribution is actually from an account other than an IRA. Funds could potentially be paid to an HSA from a 401(k) or similar plan, but it wouldn't be an HFD. A qualified retirement plan like a 401(k) is not an IRA. As long as the 1099-R has code 1, 2, 7 in box 7 and the IRA/SEP/SIMPLE box is marked, online TurboTax will present the necessary checkbox.
‎February 19, 2025
7:15 AM