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Retirement tax questions
What is the code in box 7 for the second 1099-R?
Please follow these steps to use the workaround discussed in 1099R Coronavirus Exception Issue to enter your 1099-R if you have code B1 in box 7:
- Login to your TurboTax Account
- Click on the Search box on the top and type “1099-R”
- Click on “Jump to 1099-R” and enter all 1099-R information, enter code "1" but do not enter code "B" in box 7
- Continue until "Tell us if any of these uncommon situations apply" screen
- Select "I took out this money because of a qualified disaster (includes COVID-19)"
- Answer all questions in regards to the COVID distribution to trigger that you qualify for the Qualified Disaster Retirement treatment.
- On the “Review your 1099-R info” screen click "edit" and add code "B" to the 1099-R Form entry.
- When you continue the COVID questions are still accessible
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February 28, 2021
11:35 AM