My 1099-R, box 1 & 8 have the same amount, box 7 is code W. TurboTax is asking what I did with this money. Which answer is best for this situation?
The amount in box 1 is for LTC rider charges for the previous year andis not treated as taxable income. The amount in box 8 is the reduction in the cost basis of the policy.
01715
1 Best answer
Anita01
New Member
Jun 6, 2019 12:49:03 AM
Say you did something else with it. That question is only asked to see if you did a rollover with the funds, that s, redeposited them to the same or another qualified retirement plan. Doing something else means you did not roll it over.
1 Replies
Anita01
New Member
Jun 6, 2019 12:49:03 AM
Say you did something else with it. That question is only asked to see if you did a rollover with the funds, that s, redeposited them to the same or another qualified retirement plan. Doing something else means you did not roll it over.