DanaB27
Employee Tax Expert

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:

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. 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")
  4. Continue until "Tell us if any of these uncommon situations apply" screen
  5. Select "I took out this money because of a qualified disaster (includes COVID-19)"
  6. 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

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R” and enter all 1099-R information, enter code "1" but do not enter code "B" in box 7
  4. Continue until "Tell us if any of these uncommon situations apply" screen
  5. Select "I took out this money because of a qualified disaster (includes COVID-19)"
  6. Answer all questions in regards to the COVID distribution to trigger that you qualify for the Qualified Disaster Retirement treatment.
  7.  On the “Review your 1099-R info” screen click "edit" and add code "B" to the 1099-R Form entry.
  8. When you continue the COVID questions are still accessible
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