Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
smallbeaty
New Member

I don't know what code to enter in the Retirement Type Checkbox... "N", "B", or "R". On my 1099-R form, I have a 1 in Box 7, which is the only code I see.

 
2 Replies
DanaB27
Employee Tax Expert

I don't know what code to enter in the Retirement Type Checkbox... "N", "B", or "R". On my 1099-R form, I have a 1 in Box 7, which is the only code I see.

When you enter your 1099-R select "1" for the box 7 entry.  Enter Form 1099-R exactly as it shows on the Form.

 

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R”
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
SteamTrain
Level 15

I don't know what code to enter in the Retirement Type Checkbox... "N", "B", or "R". On my 1099-R form, I have a 1 in Box 7, which is the only code I see.

IF you see that as an error...then you didn't set it on a follow-up page after you entered your 1099-R form itself during the interview.

 

Go back to the actual 1099-R form in the Wages&Income section and edit that 1099-R....on one of the the pages AFTER the main form, you need to indicate what the source/type of the pension was....and make a selection  (picture below)    .  Usually it is a "None" selection, unless is either a State employee pension, or Federal/Military pension which was 5-year vested before Aug 12 1989....then it can be marked as Bailey Settlement.  (the other two, Faulkenbury and RailroadRoad are rarely used for a plain 1099-R form):

 

1099R_NorCar_2014.png

 

*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Dynamic AdsDynamic Ads
Privacy Settings
v