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Retirement tax questions
First, delete the entire entry you made and start over. I can't think why this would show up as a ordinary dividend, but entering this in as a dividend 1099 DIV seems plausible as dmertz has pointed out. Let's try to list the steps correctly. So once your original entry is deleted, enter the 1099R using the following steps. .
- Go to Retirement Plans and Social Security in the income section of your return.
- Select IRA, Pension plans Withdrawals (1099R) etc.
- Record your 1099 R with Code T
- After you make your entry, there should be a follow-up screen asking if you inherited this. Here you will record the information on who you inherited this from.
- The next screen will ask what the RMD requirement was for this year. if it is for the full amount of the distribution, list the full amount.
- Then there will be a follow-up screen. Here you can say that the entire distribution is applied to the December 31, 2024 RMD
This should clear your issue.
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‎April 3, 2025
6:26 AM