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Retirement tax questions
I also find the Turbo Tax handling of form 1099-R as inadequate. I have a large distribution (completer withdrawal) in box 1, nothing in box 2a and 2b and an amount larger than box 1 in box 5 and code 7D in box 7.
The reality is that box 5 was an amount contributed to an annuity with after tax dollars. It is therefore clear that none of box 1 is taxable. After trying everything, Turbo Tax seems unable to handle it and insists that it is taxable in the absence of zero in box 2a. I am therefore in the process of handling it by including forms directly from the IRS with perhaps an accompanying explanatory note.
‎October 3, 2022
2:52 PM