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Hi, need to enter 1099-Rs but Turbo Tax does not give option. Am under 65 but have taken required minimum distributions because accounts are inherited (death benefits).

 
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2 Replies

Hi, need to enter 1099-Rs but Turbo Tax does not give option. Am under 65 but have taken required minimum distributions because accounts are inherited (death benefits).

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


Online editions -

On the screen Did you get a 1099-R in 2024? Click on Yes

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

SabrinaD2
Expert Alumni

Hi, need to enter 1099-Rs but Turbo Tax does not give option. Am under 65 but have taken required minimum distributions because accounts are inherited (death benefits).

You'll get a Form 1099-R if you received $10 or more from a retirement plan. You're required to report a 1099-R on your tax return, even if the distribution isn't taxable.

You can import or upload your 1099-R, or manually enter the information yourself.

Here's how to navigate to the 1099-R section:

  1. TurboTax Online/Mobile: Go to 1099-R or go to the magnifying glass at top right and and search for and select 1099-R.
  2. Inherited Accounts: When entering the 1099-R information, ensure you select the appropriate distribution code that reflects the inherited nature of the account. This is typically indicated as code 4 in Box 7 of the 1099-R form
  3. Required Minimum Distributions (RMDs): Even if you are under 65, inherited accounts may require RMDs. TurboTax will guide you through the process of reporting these distributions accurately
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