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Retirement tax questions
No, your Form 1099-R is correct, enter it as shown on the form with $12,000. You will have to answer the follow-up questions to be able to split it. Please follow these steps to enter your 1099-R and trigger Form 8915-E to report the COVID distribution:
- 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 your 1099-R (if you started this before you should see the “Your 1099-R Entries” screen and will click "edit")
- 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 follow up questions carefully.
If you have code 1B in box 7 then please follow these workaround steps from user dmertz as discussed in 1099R Coronavirus Exception Issue:
- 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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March 9, 2021
9:04 AM