Annuity income question

Forum|Forum|7 years ago
June 6, 2019
5 replies
23 views

Bought an annuity 5 years ago and cashed it in in 2018. Not a pension. Received 1099-R with taxable income in box 2a. Turbotax does not have 1099-R for non-pension annuity in the income section. Where do I input data? Am I stuck paying four years of income in one year?

TurboTax Basic Windows

DoninGA

Level 15

Were federal and state taxes withheld, box 4 and box 12? What is the code shown in box 7? The taxable amount shown in box 2a is entered on your tax return as ordinary income and taxed at your current tax rate.

mefjrAuthor

Level 2

This second answer does not apply. As I said in the original question, this is not a pension plan annuity.

mefjrAuthor

Level 2

No taxes withheld

DoninGA

Level 15

To enter a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

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