I entered a1099R for inheritance of a non qualified Annuity ( not IRA ). TT calls it an IRA (box 7 does NOT show it to be an IRA) DO i just continue as if it was??

rolo1971 · ‎June 6, 2019

The annuity was money from a house sale. Mom got interest check monthly and it was always money she paid taxes on. My 1099R has total dist and taxable amt.. which was only the interest portion.

MarilynG · ‎June 6, 2019

You are correct that you should only be taxed on the Earnings portion, shown as the Taxable Amount in Box 2a on your 1099-R.

Make sure the 'IRA' box is not checked when you enter your 1099-R.

Here's more info:

https://ttlc.intuit.com/replies/5660225

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View solution in original post

MarilynG · ‎June 6, 2019

You are correct that you should only be taxed on the Earnings portion, shown as the Taxable Amount in Box 2a on your 1099-R.

Make sure the 'IRA' box is not checked when you enter your 1099-R.

Here's more info:

https://ttlc.intuit.com/replies/5660225

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I entered a1099R for inheritance of a non qualified Annuity ( not IRA ). TT calls it an IRA (box 7 does NOT show it to be an IRA) DO i just continue as if it was??