1099-R

[ultrajim49]

I am married filing jointly. I have just started and have only entered my wife's W2. my second entry is my wife's 1099-R which is 100% of her distribution from her pension. Turbotax is asking "ME" because I am over 70 1/2... my wife is 65...was this 100% of my RMD. This was for my wife not "ME".

How do I answer this?

[DaveF1006 · Accepted solution]

There is an entry you will make on the 1099R that will ask if that is your 1099R or your spouse.

When you get to the screen where it  asks you what type of 1099R it is, there is a prompt in the middle of the form that says Tell Us Which 1099-R you have  you will see a choice that says  This form 1099-R belongs to here is where you make the choice that it is hers. Turbo Tax will know that she did not turn 70 1/2 during the year and will not ask RMD information.

.

[ultrajim49]

Dave, Thank you very much...it was exactly as you said. You're the best !!!!!

[Bob821]

my 1099 R does match the numbers on your form.

[Bob821]

Made a mistake my 1009-R numbers don't match the number on your form.

[DoninGA]

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@Bob821 wrote:

Made a mistake my 1009-R numbers don't match the number on your form.

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Then edit the Form 1099-R.

Enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

[bzboyle]

1099-R does not come up when I search.  I am using Turbo Deluxe.  Do you need another version?

[MayaD]

You can use the Deluxe version to report Form 1099-R.

Follow the steps below to add the form:

1. Log in to your account.
2. Go to Federal Taxes.
3. Go to Wages and Income.
4. Go to Retirement Plans and Social Security and click show more.
5. Select IRA, 401(k), Pension Plan Withdrawals (1099-R).

[bansmo]

Hello - I am confused as to why I received a 1099-R form and if the amount on the form should be taxable.  My husband contributed money towards his Traditional IRA, which was then immediately converted to his Roth IRA.  I understand that this is known as a Backdoor IRA, and is not supposed to be taxable.  However, when I entered the Box 1, 2A and 7 information from the 1099-R form into TurboTax, my refund amount reduced, making me think we are being taxed on the contribution.  Can you please advise if I was supposed to receive the 1099-R form, and if the money should in fact be taxable?  Thank you!  Michelle

[Kanehoa]

My wife and I both received a 1099-R covering Civil Service pensions.  I have entered the appropriate data in TT but upon review it seems the amounts are considered IRA distributions.  I am asked for the "annuity starting date" and the "plan cost at annuity starting date".  These are pensions, not annuities.  How do I get this corrected?

[jtdfp]

@DaveF1006 

Hi David (and everyone)

I had a question regarding excess contribution to Roth IRA, - I was hoping for some last minute guidance. Here are the basics:

Made $1,800 in excess contributions during the 2019 calendar year

Realized made excess contributions last week BEFORE filing my taxes

Excess contributions withdrawn and earnings on excess contributions withdrawn (will be receiving checks for both)

Earnings on excess contributions in 2019 were $45.43

Do I have to report anything on my 2020 taxes that I am about to file (tomorrow!)?

What form/information do I need to report on my taxes before I file them (tomorrow) to avoid having to do an amendment? Is it a 2019 1099-R that will be sent to me that contains the information? (If so, going to try and get this information from the financial institute tomorrow - not sure if do-able).

(and, do i need to report the excess contribution anywhere or do i treat it as though it did not happen since it was withdrawn prior to the tax filing?)

Further, I realized excess contributions were made so far this year in 2020, I have already halted further contributions and requested those be withdrawn and sent to me along with earnings on the excess contributions. When I file in 2021 (for 2020 tax stuff) will I report this the same way - using a 1099-R form for the earnings on excess contributions?

Most importantly, thank you!

[Alantha McNeal]

I have a 1099-R to file

[LinaJ2020]

To enter a Form 1099-R in TurboTax online, here are the steps:

• Sign in to your account and select Pick up where you left off
• From the upper right menu, select Search and type in 1099r and Enter
• Select the Jump to 1099r
• Follow prompts

Form 1099-R is issued when taxpayer takes distribution from his or her retirement plan including an IRA.

@Alantha McNeal

[stephen lagrossa]

where do you file then I don't see them or1099 sm

[MayaD]

Form 1099-R is used to report the distribution of retirement benefits such as pensions, annuities or other retirement plans.

To enter your 1099-R:

• Login to your account.
• Select Federal from the left menu.
• Select Wages and Income then Income and Expenses.
• Scroll down to Retirement plans and Social security
• Select Start next to 1099-R, IRAs, 401K, early withdrawal.