Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Mar 27, 2024 9:26:02 PM

1099R Distribution Code 1M and how to enter in TurboTax

I'm trying to enter a 1099R form that has a distribution code of 1M. There is no option to enter this code other than in two different drop downs in TurboTax. How do I enter this distribution code...there is 2 drop downs, Does code 1 go in one dropdown window and M in the second drop down window right underneath? Is this how this needs to be entered? This is a loan offset, did they already take this money from my existing balance I had and is the amount coded 1M subject to taxes? When I enter it as 1M it reduces my refund by 10%. Appreciate what information you can provide on this.

0 2 1864
2 Replies
Level 15
Mar 27, 2024 9:50:28 PM

enter the codes separately as you inferred.

you must click CONTINUE after entering a 1099-R 

this may answer your other questions.

@Riccidr7 

Level 1
Mar 30, 2024 7:36:45 AM

Thank you