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wassily57
New Member

My wife( we file jointly) was the recipient of money from a revocable trust when her mom passed in 2016. Have received 1099-r forms for this. How to proceed with filing?

Which Turbo tax program do I need to file this?  Do I need to claim this inheritance?
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IreneS
Intuit Alumni

My wife( we file jointly) was the recipient of money from a revocable trust when her mom passed in 2016. Have received 1099-r forms for this. How to proceed with filing?

 

Yes - you do need to report this income.  You can enter the information from Form 1099-R in any of the online or desktop versions of TurboTax. 

 

To enter the information from your 1099-R in TurboTax, please follow these steps:

  1. Click on Federal Taxes > Wages & Income  [In TT Self-Employed:  Personal > Personal Income].
  2. Scroll down to the Retirement Plans and Social Security section and click on the Start/Revisit box next to IRA, 4701(k), Pension Plan Withdrawals (1099-R).  
  3. If you've already entered one (or more) 1099-Rs, you will see a screen Your1099-R Entries.  Click on the link Add Another 1099-R.  
  4. If you haven't already entered a 1099-R, you will see the screen, Your1099-R. Click Yes and then Continue.
  5. You can either import your 1099-R or click on the I'll type it in myself box.  
  6. If you select to enter the information yourself, continue through the screens, answering the interview questions.


[Edited | 4/14/2020 |  7:33am PDT]

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1 Reply
IreneS
Intuit Alumni

My wife( we file jointly) was the recipient of money from a revocable trust when her mom passed in 2016. Have received 1099-r forms for this. How to proceed with filing?

 

Yes - you do need to report this income.  You can enter the information from Form 1099-R in any of the online or desktop versions of TurboTax. 

 

To enter the information from your 1099-R in TurboTax, please follow these steps:

  1. Click on Federal Taxes > Wages & Income  [In TT Self-Employed:  Personal > Personal Income].
  2. Scroll down to the Retirement Plans and Social Security section and click on the Start/Revisit box next to IRA, 4701(k), Pension Plan Withdrawals (1099-R).  
  3. If you've already entered one (or more) 1099-Rs, you will see a screen Your1099-R Entries.  Click on the link Add Another 1099-R.  
  4. If you haven't already entered a 1099-R, you will see the screen, Your1099-R. Click Yes and then Continue.
  5. You can either import your 1099-R or click on the I'll type it in myself box.  
  6. If you select to enter the information yourself, continue through the screens, answering the interview questions.


[Edited | 4/14/2020 |  7:33am PDT]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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