dmertz
Level 15

Retirement tax questions

Then answer that this is not the first year.  TurboTax is an area where the wording of the question is overly specific such that it's not asking the right question.   Ignore the words "from  Principal Bank."  (TurboTax uses this sort of misleading wording in several places where it's meant to identify the Form 1099-R by the payer name but the wording mistakenly implies things beyond that intent.