1099-R code B2 error

Forum|Forum|7 years ago
June 5, 2019
2 replies
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How to enter data if it is a designated Roth account and not an IRA

TurboTax Business Windows

ajp_47Author

Level 2

TurboTax software does not allow you to designate your 1099-R information as a designated Roth account. It only assumes that it is a Roth IRA. Therefore, it shows at B2 code in box 7 as an invalid code

dmertz

Level 15

In the questions that follow entering the code B2 Form 1099-R details, you must answer No when asked if the distribution was from a Roth IRA. It's a trick question since the code B already indicates that the distribution was from a designated Roth account in a qualified retirement plan, not a distribution from a Roth IRA. Edit the the Form 1099-R and correct your answer to this question.

drzhiwang

Level 2

Using Turbotax 2020, I couldn't enter B2 in for Box 7. So I entered B. After that turbotax didn't ask me if it is Roth IRA. Please specify where in the form to enter that. Thanks for your help.

dmertz

Level 15

To enter the second code in online TurboTax, mark the box that says "I have more than one value in box 7" below the first code selection box and enter the second code, code 2.