Entered 2020 Form 1099-R in TT for Tax Year 2020 (TT 2020) and Got Warning

Forum|Forum|5 years ago
March 9, 2021
11 replies
25 views

(1.) TT asked me what year was stated on my 1099-R: 2021 or 2020

(2.) I selected 2020 because that's what it says "2020 Form 1099-R"

(3.) TT then said because it said "2020" I am not supposed to entered this 1099-R data into TT2020

(4.) Instead TT said I have to amend my Tax Year 2019 return and enter this 1099R data in that return.

(5.) Why? I dont' understand.

(6.) Also, for now I kept the 1099-R data in my TT for tax year 2020 and TT doesn't flag it as an error.

(7.) No idea what's going on.

(8.) Should i just keep this 2020 1099-R data in my TT return for tax year 2020 OR amend my tax year 2019 return with this 1099-R data? So confused.

9. Thank you to anyone in advance who can help me understand this.

macuser_22

Alumni - Champ

What code is in box 7?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

zenmsterAuthor

Level 6

Code on line 7 = "2"

DoninGA

Level 15

@zenmster wrote:

Code on line 7 = "2"

Are you using the 2020 TurboTax desktop software or the 2019 TurboTax desktop software? Each tax year is a separate program and the 2020 Form 1099-R can only be entered when used with the 2020 TurboTax software.