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My 1099-R line 1 amount is actually a custodial fee taken and not a personal distribution, do I still need to enter into turbo tax?
I received 2 1099-R but never took a personal distribution. Those were actually custodial fees. Why do I pay the tax on those?
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My 1099-R line 1 amount is actually a custodial fee taken and not a personal distribution, do I still need to enter into turbo tax?
You would need to contact the financial institution to find out that information. But, I can say that if you get a 1099-R, it will be reported on your tax transcript and you should report it.
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My 1099-R line 1 amount is actually a custodial fee taken and not a personal distribution, do I still need to enter into turbo tax?
What letter code do you have in Box 7?
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My 1099-R line 1 amount is actually a custodial fee taken and not a personal distribution, do I still need to enter into turbo tax?
You would need to contact the financial institution to find out that information. But, I can say that if you get a 1099-R, it will be reported on your tax transcript and you should report it.
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