You'll get a Form 1099-R if you received $10 or more from a retirement plan. You're required to report a 1099-R on your tax return, even if the distribution isn't taxable.
You can import or upload your 1099-R, or manually enter the information yourself.
Here's how to navigate to the 1099-R section:
- TurboTax Online/Mobile: Go to 1099-R or go to the magnifying glass at top right and and search for and select 1099-R.
- Inherited Accounts: When entering the 1099-R information, ensure you select the appropriate distribution code that reflects the inherited nature of the account. This is typically indicated as code 4 in Box 7 of the 1099-R form
- Required Minimum Distributions (RMDs): Even if you are under 65, inherited accounts may require RMDs. TurboTax will guide you through the process of reporting these distributions accurately
