To get TurboTax to recognize your pension as satisfying your RMD (if applicable) and to get past the road block of the questions that do not pertain to you, including "annuity" questions, do the foll...
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To get TurboTax to recognize your pension as satisfying your RMD (if applicable) and to get past the road block of the questions that do not pertain to you, including "annuity" questions, do the following:
First, we will delete the original Form 1099-R entry:
Go to Tax Tools on the right hand panel inside of TurboTax
Click on the down arrow and scroll down to Tools
Click on Tools and select Delete a form from the menu items that appear in the Tool Center
Click on the trash can icon to the right of the Form 1099-R and Form 5329 (that may have been triggered incorrectly)
Now, click back on Wages & Income to return to input the Form 1099-R information again:
Go to Income on the left panel within your TurboTax account
Scroll down to Retirement Plans and Social Security and click on the down arrow to the right
Click Start to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R)
Click the Yes box when you see, "Did you get a 1099-R...?"
Click the "Enter a different way" box
Click the "Type it in myself" box
Click on the box that pertains to your type of 1099-R (typically the first box), Continue
Next, you will see, "Enter your 1099-R provider's info", complete that, then Continue
Next, you will see "Enter your 1099-R details from _". Enter the information from the original Form 1099-R that you received
Ensure the details from your Form 1099-R are correct checking for which Distribution Code was used in Box 7 and that the IRA/S/S box is not checked, then Continue
Ensure the "No, the box is blank" is selected on the next screen, "Is the IRA/SEP/SIMPLE box on this 1099-R checked?", then Continue
Important: When you reach, "What kind of retirement plan do you have?", select Qualified plan, then Continue
When you reach, "Was This Distribution From a 403(b) Plan?", select No, it's another type of qualified retirement plan, then Continue
Next, when you reach, "Let's get more information about your Required Minimum Distribution (RMD)", enter your RMD (if not applicable, enter zero 0) due by December 31
Next, you are asked, "How much of this distribution applied to your December 31 RMD?"
Next, select "Entire, or Some", for the amount of the distribution that applied to your RMD (amount you just entered in prior screen), Continue
Next, when you see, "We found a few other questions about your situation", Continue
This is where you will see questions relating to Annuity, where you will answer No to periodic payments, Continue
Do you have more 1099-Rs to enter? Select No to complete the steps for this one before moving to the next one
You will reach "Review your 1099-R summary", press Continue (not the pencil) and additional questions will generate for you to answer
When you reach "Let's go over any required minimum distributions (RMD)", Continue (not the pencil)
