If Turbo Tax won't let me submit my tax form because it wants answers to Annuity start date & Plan cost at annuity start date, what should I do?

TurboTax Online will use the simplified method to determine the taxable portion for box 2a of your CSA 1099-R.   Presume that:

 

• Monthly payments were received, 
• Payments started in 2024, and 
• That box 7 is code 7.

You will need to know:

 

• The amount of the employee contributions (should be in box 9b),
• The date the annuity started,
• The number of months that payments were received in 2024, 
• The age of the recipient when the annuity started,
• The age of other beneficiaries (if there are any), and 
• Was the recipient under the retirement age for the plan.

Follow these steps:

 

1. Down the left side of the screen, click Federal.
2. Down the left side of the screen, click Wages & Income.
3. Click on the down arrow to the right of Retirement Plans and Social Security.
4. Click to the right of IRA 401(k) Pension Plan Withdrawal (1099-R).
5. At the screen Who gave you a 1099-R, select  Office of Personnel Management (CSA 1099-R).
6. At the screen Any Periodic Payments? select  Yes, got regular payments from this retirement account.
7. At the screen Payment Start Year select Yes started getting payments in 2024.
8. At the screen Let’s figure out how much is taxable, select I need to figure out how much of this money I took out is taxable.
9. At the screen Enter Annuity Information enter required information.  Plan Cost should be in box 9b.
10. At the screen Enter Ages enter required information.

 

• View the entries down the left side of the screen at Tax Tools.
• Select Print Center.
• Select Print, save or preview this year's return.