I have the same problems. I received a legal settlement for lost retirement benefits reported on 1099-MISC. I immediately put it into an annuity, without even cashing the check. I can enter the 1099-MISC just fine, but when I go to the Traditional and Roth IRA Contributions section under Deductions and Credits, it gives me error messages because the amount of the settlement (48k) exceeds the allowable. It's also telling me that I'll have to pay a 6% penalty every year that this money remains in the annuity. What do I do?
