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Where do I enter 1099-R for an annuity distribution ?
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Retirement tax questions
• Select Federal Taxes
• Select Wages and Income
• Select Show More at Retirement Plans and Social Security
• Select IRA, 401(k), Pension Plan Withdrawals (1099-R)
This section will also include an annuity distribution.
Form 1099 R is used for all types of retirement accounts. The data entry is the same for distributions from pensions, IRAs, 401ks and annuity distributions.
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@gronker11 - Read the answer above. All 1099-R's are entered in the same place.
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I am using Turbo Tax for the first time. I am using the Deluxe version and I am trying to enter the annuity income I have received for 2019, using the info on the 1099 that was mailed to me. I do not see where the "Show More" tab or option that you refer to in your answer is shown in the "Retirement Plans and Social Security section of Turbo Tax. Can you please help? Thank you.
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@jkerner365 wrote:
I am using Turbo Tax for the first time. I am using the Deluxe version and I am trying to enter the annuity income I have received for 2019, using the info on the 1099 that was mailed to me. I do not see where the "Show More" tab or option that you refer to in your answer is shown in the "Retirement Plans and Social Security section of Turbo Tax. Can you please help? Thank you.
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R
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Okay, so you have to click on I will enter it myself manually and the OPM is listed in the top right hand box.
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I received a 1099-R, for an annuity distribution for $100,000 section 1 and on 2a it was the same amount $100,000, but my client told me
that there was a cost of $86,872.41. The contract was purchased February 4, 2000, and on that document shown beginning value of $86,872.41. How do I report this information on the 1040?
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@BillB5-6 --
What is the Distribution Code in Box 7 of the 1099-R?
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"MY CLIENT" ??? The Turbotax program is not for use by paid tax preparers ... you must use a professional tax program so you can sign the return you prepare according to IRS rules.
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on my tax return 5b shows no Pensions and annuities , but I have taxable distributions from my retirement.