Yes, sometimes your 1099-R will say unknown in box 2a and 9b in a case where the payer doesn't know whether or not you have a basis in your retirement plan.
In TurboTax, you can leave both of those boxes blank and the program will help you determine if you have a basis.
You have a basis in your retirement plan when you have both pretax contributions and after tax contributions in the same account.
If you aren't certain about that, you should assume you have no after tax contributions in the account and that the amount in box 1 is taxable.
Here's how to enter this in TurboTax:
- Open your return.
- Select Wages & Income.
- Scroll down to IRA, 401(k), Pension Plan Withdrawals (1099-R), under Retirement Plans and Social Security, select Start or Revisit to the right.
- On the screen, Here's your 1099-R info, select Edit to the right of the 1099-R.
- On the screen, Enter your 1099-R details from (name) enter your information as it is on the form, but leave box 2a and 9b blank.
- Select Continue.
- Answer the next few screens according to your situation.
- On the screen, Let's Figure Out How Much is Taxable, select I made no after tax contributions.
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