If you have reached the annuity interview section and it does not apply, it may be because you may have checked the box that reads "Yes, this is a 403(b) plan", which triggers the "Simplified Method" and "General Rule" interviews.
If your Form 1099-R is for a standard retirement plan (like a 401k or pension) and you want to bypass the annuity interview loop, follow these steps:
- On the 1099-R entry screen, make sure Box 7 matches your form (likely Code 7 or Code 1)
- Ensure the "IRA/SEP/SIMPLE" box is unchecked (Unless it is an IRA)
- When the software asks, "Was this distribution from a 403(b) plan?", select "No, it's another type of qualified retirement plan"
- By selecting No, the software should treat it like a standard pension or 401k distribution and skip the "Annuity" questions entirely
What if you actually have an annuity? If you are receiving regular payments from a commercial annuity or a qualified plan where you made after-tax contributions (Usually shown in Box 9b of your 1099-R), you will need the following information to get past the interview screens:
- Annuity start date
- Plan Cost (Basis), which is the amount of after-tax money you (or your employer) contributed to the plan
- Age at start
- Amounts previously recovered, which is the total amount of "tax-free" principal you've already claimed on prior years' returns
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