Hi, I have a 1099 R with only box 1 and 7 (W) filled in. Turbotax is now asking me what i did with the money and I haven't moved/touched it. What do I do?

[ellencoffey92]

I filled in all I could (I only had information in box one and seven with sevens distributions code being W) and Turbotax is asking me "What I did with the money?" but I haven't touched the funds. Is my tax info wrong or what is going on?

[PaulaM]

No, you did nothing wrong. Primarily, the question wants to know if you rolled your money (all or part) to another retirement account. The follow-up questions for a 'yes' response determines the tax treatment.

If you entered your form exactly as it is reported and didn't move the money to another retirement account, mark the 'no' radio button. Code W means your distribution is excludable from income.

To verify that the form is reflected properly on your return:

• Select My Account
• Tools
• View Tax Summary from the blue links
• Preview my 1040 in white space under My Account
• Scroll to line 16 a and b
• Total distribution should be listed on line 16a, and 16b (or 15 a and 15 b depending on the 1099-R) should have a '0'

See attachment