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New Member
posted Feb 21, 2020 2:32:14 PM

On the "Retirement Income Results" page, Turbotax put my Annuity amount on the "IRA dist" line instead of the "Pension and Annuity dist" line. Is this a problem?

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1 Best answer
Level 15
Feb 21, 2020 3:14:12 PM

The line that the distribution goes on is dictated by the code in box 7 of the Form 1099-R and the marking of the box and TurboTax properly adheres to this.  If the the Form 1099-R provided by the payer has the IRA/SEP/SIMPLE box marked or there is a code J, T or Q in box 7, the annuity is an IRA annuity and belongs on 2019 Form 1040 line 4a or 4b.  Any other Form 1099-R belongs on line 4c or 4d.

4 Replies
Expert Alumni
Feb 21, 2020 2:50:38 PM

It would be best to correct it. For your annuity to be included on the Pension and Annuity distribution line, then the IRA box would not be checked.

 

To uncheck the box, follow these steps:

  • From the left menu, select Federal>
  • Wages & Income>Scroll to IRA,401(k), Pension Plan Withdrawals (1099-R) and click Edit
  • From Your 1099-R screen, click Edit by your Annuity
  • Scroll through until you see the box selected, just after Distribution Code box

Level 15
Feb 21, 2020 3:14:12 PM

The line that the distribution goes on is dictated by the code in box 7 of the Form 1099-R and the marking of the box and TurboTax properly adheres to this.  If the the Form 1099-R provided by the payer has the IRA/SEP/SIMPLE box marked or there is a code J, T or Q in box 7, the annuity is an IRA annuity and belongs on 2019 Form 1040 line 4a or 4b.  Any other Form 1099-R belongs on line 4c or 4d.

New Member
Feb 25, 2020 9:36:59 AM

The two responses I received did not agree with each other.  I went with the second response from dmertz. The IRA/SEP/SIMPLE box is checked on my annuity 1099-R and I assumed it was there for a reason.  dmertz indicates that having this box checked means that the annuity is an IRA annuity and the income should be shown on line 4a,b.  This makes sense to me.  

Thank you.   

Level 15
Feb 25, 2020 10:04:10 AM

I believe that KathrynG3 did not consider the possibility that this annuity was an IRA annuity and answered under the assumption that this was not an IRA annuity.