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Retirement tax questions
To report your foreign profit sharing plan payout, while working in your TurboTax Online return:
- Click on "Search" in the upper right hand corner of your screen.
- Type "1099r" in the search window and hit enter., then Click on "Jump to 1099r"
- On the next screen, answer yes to "Did you have any of these types of income in 2020?"
- Click "Continue"
- Click on "I'll type it in myself"
- Check the box next to "I need to prepare a substitute 1099-R."
- On the next page, click "Continue"
- Fill in the boxes with your pension information. For the Federal Tax ID, use "99-9999999" for Box 7, use Code 7.
- Select Yes when asked if you want to prepare a substitute Form 4852.
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March 1, 2021
4:06 PM