ThomasM125
Expert Alumni

Retirement tax questions

You need to enter a substitute Form 1099-R in TurboTax to to report the distribution in 2023 since you won't get the Form 1099-R reporting the distribution until 2024.

 

  1. Go to the personal income section of TurboTax 
  2. Find the Retirement Plans and Social Security menu option
  3. Start or Update IRA, 401(k), Pension Plan Withdrawals (1099-R)
  4. Choose Add Another 1099-R
  5. Choose I'll type it in myself
  6. On the screen that says Tell Us Which 1099-R You Have choose I need to prepare a Substitute 1099-R
  7. Enter the distribution amount in box 1 of the substitute 1099-R
  8. Enter the distribution amount in box 2(a)
  9. Enter code "P" in box 7 for return of contribution taxable in 2022 (the actual one next year will say 2023)
  10. When asked about the year on the form 1099-R, say it is for the year following the year you are working on
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