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ellencoffey92
New Member

Hi, I have a 1099 R with only box 1 and 7 (W) filled in. Turbotax is now asking me what i did with the money and I haven't moved/touched it. What do I do?

I filled in all I could (I only had information in box one and seven with sevens distributions code being W) and Turbotax is asking me "What I did with the money?" but I haven't touched the funds. Is my tax info wrong or what is going on?
1 Reply
PaulaM
Expert Alumni

Hi, I have a 1099 R with only box 1 and 7 (W) filled in. Turbotax is now asking me what i did with the money and I haven't moved/touched it. What do I do?

No, you did nothing wrong. Primarily, the question wants to know if you rolled your money (all or part) to another retirement account. The follow-up questions for a 'yes' response determines the tax treatment.

If you entered your form exactly as it is reported and didn't move the money to another retirement account, mark the 'no' radio button. Code W means your distribution is excludable from income.

To verify that the form is reflected properly on your return:

  • Select My Account
  • Tools
  • View Tax Summary from the blue links
  • Preview my 1040 in white space under My Account
  • Scroll to line 16 a and b
  • Total distribution should be listed on line 16a, and 16b (or 15 a and 15 b depending on the 1099-R) should have a '0'

See attachment

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