turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jezirate
New Member

Can I apply my required minimum distribution that I requested on12/30/2022 but received on 1/3/2023 on this form, and if so, where?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
JohnB5677
Expert Alumni

Can I apply my required minimum distribution that I requested on12/30/2022 but received on 1/3/2023 on this form, and if so, where?

Yes, 

  • You will have to prepare a substitute 1099-R on your 2022 tax return.
  • You will get the 1099-R in 2024 for 2023.  
  • You won't have to do anything with it. simply include it with your 2022 tax return.
  1. Select Federal 
  2. Wages & Income 
  3. Select Wages and Salaries, or Revisit 
  4. Scroll to Retirement Plans and Social Security
  5. Select the type of income.
    1. IRA, 401(k), Pension Plan Withdrawals (1099-R)
    2. Social Security (SSA-1099, RRB-1099)
    3. Canadian Registered Pension Income
  6. At this point you can edit an existing document of [Add another 1099-R]
  7. If a new 1099-R continue to Let's import your tax info
  8. [Change how I enter my form]
  9. [Type it Myself]
  10. Post your information.
  11. Box 7 will probably be code 8  "Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2022".
  12. Several screens after you've posted your information, 
  13. Do any of these situations apply to you?
  14. Select I need to file a substitute 1099-R
  15. Continue to the end of the interview.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
dmertz
Level 15

Can I apply my required minimum distribution that I requested on12/30/2022 but received on 1/3/2023 on this form, and if so, where?

If the payer did not issue a 2022 Form 1099-R for this distribution, the distribution is 2023 income that will be reported on a 2023 Form 1099-R which you'll enter into 2023 TurboTax next year.  You are not permitted to report such a distribution on your 2022 tax return by entering a substitute Form 1099-R.  It's your responsibility to request distributions in a timely manner such that the payer following its normal distribution procedures can complete the distribution before the end of the year.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies