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whmeck
New Member

My Prudential 1099-R is for a whole life insurance policy contract and is not an IRA or 403(b) but TurboTax 2024 refuses to accept Other as type of account. How to fix?

 
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2 Replies
JamesG1
Employee Tax Expert

My Prudential 1099-R is for a whole life insurance policy contract and is not an IRA or 403(b) but TurboTax 2024 refuses to accept Other as type of account. How to fix?

On the IRS form 1099-R, what code is reported in box 7?  Is the IRA/SEP/SIMPLE box checked?  Please clarify.

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whmeck
New Member

My Prudential 1099-R is for a whole life insurance policy contract and is not an IRA or 403(b) but TurboTax 2024 refuses to accept Other as type of account. How to fix?

The code in box 7 is 7.  The IRA/SEP/SIMPLE box is NOT checked.

 

I have resolved this problem by selecting the "None" radio button instead of "Other".  I have been using Turbotax for eight consecutive years and I for each of those years I received this particular 1099-R and it was never an issue before this year (2024).  I don't know why it suddenly became a problem but the software was giving me fits and preventing me from filing electronically but selecting the "None" radio button solved the problem.  I have already filed my return.  Thank you for offering your assistance.

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