Retirement tax questions

ThomasM125 · ‎April 9, 2021

If the form 1099-R that you have is coded "N" in box 7 for recharacterized IRA, then the distribution will not show as taxable, so you can enter it as it is stated. Otherwise, if you enter it and the distribution is showing as taxable, you will need to get it corrected by the issuer.

You can prepare a substitute form 1099-R to report the earnings on the distribution. Enter the earnings in box 1 and box 2 and use code "8" in box 7. You will see an option to prepare a substitute form 1099-R in TurboTax as follows:

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"