I should not have to pay taxes on this amount, yet turbotax has put this amount into distributions from IRA. How do I enter this info into turbotax?
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If you received a 1099-R, it is a Distribution from an IRA account.
Whether it is taxable or not depends on the Code in Box 7 of the 1099-R. When you enter the 1099-R into TurboTax, you will be asked some questions about your distribution.
TurboTax will report the distribution on your tax return, but it will not be taxable income.
Here's more info:
https://ttlc.intuit.com/replies/3301082
If you received a 1099-R, it is a Distribution from an IRA account.
Whether it is taxable or not depends on the Code in Box 7 of the 1099-R. When you enter the 1099-R into TurboTax, you will be asked some questions about your distribution.
TurboTax will report the distribution on your tax return, but it will not be taxable income.
Here's more info:
https://ttlc.intuit.com/replies/3301082
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