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cjpaljazz
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Does a 69 year old receive 1099-R for withdrawl from ira?

does a 69 year old need to report a 1withdrawl from ira?
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2 Replies

Does a 69 year old receive 1099-R for withdrawl from ira?

Yes.  There is no exclusion from reporting taxable income based on age.

 

To enter, edit or delete 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

 

On the screen Did you get a 1099-R in 2021? Click on Yes

On the next screen click on Continue

On the screen Let's import your tax info Click on Change how I enter my form

On the screen How do you want to add your 1099‑R? Click on Type it in myself

On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue

Does a 69 year old receive 1099-R for withdrawl from ira?

Yes, all income has to be reported. 

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