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Retirement tax questions
If you are referring to an IRA distribution, you should get a Form 1099-R showing that. This is how to enter it:
- Open your return and make sure you are in the Federal section.
- Select Income from the upper left.
- Find IRA, 401(k), Pension Plan Withdrawals (1099-R), on the list, click Start or Review to the right.
- Answer the first question Yes.
- Click Continue.
- Scroll down the bottom and select, Change how I enter my form.
- On the next screen, select Type it in myself, in the lower right corner.
- Select 1099-R on the next screen and click Continue.
- Enter your 1099-R on the next few screens.
- Keep going until you finish the section.
If you are referring to an IRA contribution, if you have no earned income you are not allowed to make an IRA contribution. Any contribution would be an excess contribution and would need to be withdrawn.
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‎April 6, 2022
1:51 PM