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?
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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:
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.
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