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New Member
posted Apr 29, 2024 2:35:50 PM

Form 1099-R

I got this for year 2023.  Amount was transferred to investment.  How do I file my taxes?

 

box 1–$95,000

box2a- $44,000

box 2b- X-total distribution 

box 5-$50,000

box 7-7D

box 9a- 100%

box 16-$44,000

 

what do I do?

 

 

0 2 6373
2 Replies
Employee Tax Expert
Apr 29, 2024 7:00:51 PM

First, you will need to input your 1099-R. Then, on the screens that follow your input, you will be asked about rollovers. This is on the screen, Tell us if you moved the money through a rollover or conversion, which is below for additional reference. Answer this question according to the details of your transfer. 

 

To get to the 1099-R area of TurboTax, please follow the instructions below:

  1. Open your return. 
  2. In the Federal section, select Wages & Income.
  3. Scroll to locate Retirement Plans and Social Security.
  4. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).

 

Level 15
Apr 30, 2024 6:35:41 AM

And you do need to be clear as to what kind if account it was transferred to...the button you select.....if it just went to a regular personal investment account...and not to any kind of IRA, then you'd select the last button.

 

For the box 7 code being a 7D...be aware that is actually two separate codes..a 7 and a D that go in two separate boxes at box 7.