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My 1099-R box 7 contains 1M, and TurboTax doesn't allow it.

Turbotax is only allowing a single character. This changes my federal due by over 400 dollars.
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Accepted Solutions
dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

My 1099-R box 7 contains 1M, and TurboTax doesn't allow it.

This is two codes, code 1 and code M.  Each must be selected separately after indicating to TurboTax that box 7 has more than one code.  Also, code M cannot be used for a distribution from an IRA, so the IRA/SEP/SIMPLE box must not be marked on the Form 1099-R provided by the payer or on TurboTax's 1099-R form.

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1 Reply
dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

My 1099-R box 7 contains 1M, and TurboTax doesn't allow it.

This is two codes, code 1 and code M.  Each must be selected separately after indicating to TurboTax that box 7 has more than one code.  Also, code M cannot be used for a distribution from an IRA, so the IRA/SEP/SIMPLE box must not be marked on the Form 1099-R provided by the payer or on TurboTax's 1099-R form.

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