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Level 1
April 12, 2026
Question

IRA

  • April 12, 2026
  • 1 reply
  • 0 views

I have a 1099-R from which I had to take a mandatory distribution. This was converted from a 401k decades ago and there have been no contributions. The 1099-R has the IRA/SIMPLE/SEP box checked. Turbotax is asking if this was for a SIMPLE IRA or a SEP IRA. What does this matter?

    1 reply

    Level 15
    April 12, 2026

    It doesn't in your case.  SIMPLE and SEP IRAs are types of retirement plans, but don't apply to your situation.  You should answer no and move on. 

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