Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 23, 2020 2:04:26 PM

How does one adjust line 7 marked 7d on a 1099-r for the first annual non qualified annuity payment that was paid for with after tax money?

0 2 830
2 Replies
Expert Alumni
Mar 23, 2020 3:03:43 PM

To change your 1099-R in TurboTax, follow these steps:

  1. While in your Tax Home,
  2. Select Search from the top right side of your screen,
  3. Enter 1099-R,
  4. Select Jump to 1099-R,
  5. Follow the On-Screen Prompts to complete this section, when you get to Box 7, use the drop down menu to select D.  Annuity payments from a non-qualified plan.

Level 15
Mar 23, 2020 3:14:38 PM

Unless the plan calculated the taxable amount in box 2a then you would use the "general rule" for a non-qualified annuity with a after-tax basis if box 2a is blank and box 2b (not determined) is checked.  You do not change the box 7 codes.

 

See IRS Pub 939.

https://www.irs.gov/pub/irs-pdf/p939.pdf