Trying to file using Turbo Tax 2018. Delux
I have an annuity from John Hancock Insurance that pays out $937.00 a month. I am having this money go into my IRA. The IRA is with Morgan Stanley. I am pulling money out of my Morgan Stanley IRA as I need it.
The 1099-R from John Hancock notes in box 7, “7” Normal Distribution. My issued 1099-R for 2018 is for a total of $11250.00.
The 1099-R from Morgan Stanley notes in box 7, “7” Normal Distribution. My issued 1099-R for 2018 is for a total of $18,052.93.
As noted before the money from John Hancock is actually going into my IRA with Morgan Stanley.
I know in May, Morgan Stanley issues me a Form 5498 showing this money from John Hancock is being rolled over.
My question is how do I list the John Hancock 1099-R? Do I list it on my Turbo Tax? Do I change the designation on my tax form to “G”? It does not seem right that I get taxed twice on this money.
