This answer depends on several factors however I will name some of them so that you can review that information.
- The amount that this added to your income could put you into another tax bracket
- Federal withholding on the 1099R (if nothing this will reduce your refund and/or increase your tax)
- Various credits could be affected, some positively and others negatively - this depends on the total overall income.
It must be included in the return regardless so you could enter everything else and write down the refund amount. If you'd like to write down the figures on the 1040 you can preview that by following these steps.
In TurboTax Free Edition:
- My Account
- Tools
- View Tax Summary
- At the top "Preview My 1040"
Then enter the 1099-R and compare the 1040 again. If necessary you can print one from the IRS website.
