You'll need to sign in or create an account to connect with an expert.
No matter what the person's age is, the 1099-R must be entered in the software on the Wages&Income page.
It is not considered "earned" income, but it is considered as potential "taxable" income, depending on whether the $$ were put (effectively) in your pocket and then taxed, or.......... if "rolled" into an IRA, then it wouldn't be taxed...but teh IRS expects to see that 1099-R reported on your tax return.
No matter what the person's age is, the 1099-R must be entered in the software on the Wages&Income page.
It is not considered "earned" income, but it is considered as potential "taxable" income, depending on whether the $$ were put (effectively) in your pocket and then taxed, or.......... if "rolled" into an IRA, then it wouldn't be taxed...but teh IRS expects to see that 1099-R reported on your tax return.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mshipley1957
New Member
Nicki9
Level 1
wc158
Level 3
sugersam5
Level 3
veteran007
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.