There are new annuity questions due to the SECURE ACT. The good news is that you can usually skip this section.
Review the section to see if you may have checked the box that says "Yes, this is a 403(b) plan, or if you indicated that you received scheduled payments.
If you did, you are effectively telling the software, "I have a Tax-Sheltered Annuity," which triggers the confusing questions about annuity start dates and cost basis.
If this does not apply, follow these steps to bypass the annuity loop:
- On the 1099-R entry screen, make sure Box 7 matches your form (likely Code 7 or Code 1)
- Ensure the "IRA/SEP/SIMPLE" box is unchecked (since it's a 401a, not an IRA)
- When the software asks, "Was this distribution from a 403(b) plan?", select "No, it's another type of qualified retirement plan"
- By selecting No, the software should treat it like a standard pension or 401k distribution and skip the "Annuity" questions entirely
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