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Other financial discussions
Since the 1099-R form has a taxpayer ID number as opposed to a social security number, I assume the distribution is being paid to a trust or other entity. You will need to determine who the recipient of the form is, based on the payor and tax ID number on it to determine where to report it. If it belongs to a trust, then you need to file a trust tax return to report it if the combined income of the trust is more than $600 for the year.
You can prepare a trust tax return by using the Business version of TurboTax. You can download the product here: TurboTax Business download
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March 20, 2024
7:03 PM