TurboTax Desktop will use the simplified method to determine the taxable portion for box 2a of your CSA 1099-R. I presume that:
- Monthly payments were received,
- Payments started in 2021, and
- That box 7 is code 7.
You will need to know:
- The amount of the employee contributions (should be in box 9b),
- The date the annuity started,
- The number of months that payments were received in 2021, and
- The age of the recipient.
At the screen Let's Figure Out How Much is Taxable, select I need to figure out how much of this money is taxable.
The screens will walk you through entering the appropriate information.
You will be able to view the entry under Forms on Federal 1040 lines 5a and 5b.
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