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New Member
posted Jun 4, 2019 12:51:23 PM

I received a 1099r for dividends is that correct? instead of a 1099-Div

I received a 1099r for dividends is that correct? instead of a 1099-Div

0 3 3028
3 Replies
Level 15
Jun 4, 2019 12:51:26 PM

1099-R's report distribution from retirement accounts.  Did you have a distribution?

What code is in box 7?
Is the IRA/SEP/SIMPLE box checked?

Level 15
Jun 4, 2019 12:51:27 PM

might be a code "U" from a 404k ESOP dividend

Intuit Alumni
Jun 4, 2019 12:51:29 PM

Yes, that could be correct, especially if your distribution code in Box 7 is shown as a “U”.

You will enter the Form 1099-R as you would any other Form 1099-R.  The distribution code in box 7 will determine how it is handled on your tax return.  The taxable amount will be reported on line 16b of form 1040, but it will not be subject to an early distribution penalty. 

To go to the section in TurboTax to enter the information from your Form 1099-R, use these steps:

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
  • This opens a box where you can type in “1099-R” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
  • The search results will give you an option to “Jump to 1099-R
  • Click on the blue “Jump to 1099-R” link