Pension payments 1099-R

Forum|Forum|3 years ago
June 9, 2023
2 replies
26 views

Why does Turbotax ask for the value of my IRA when I am entering pension payments that are not associated with an IRA? What should I enter? It seems the value of an IRA should have no impact when considering payments from a separate pension plan that is not related to an IRA.

DoninGA

Level 15

Are you entering the Form 1099-R in the section for Retirement Plans and Social Security? If so, did you check the box IRA/SEP/SIMPLE by mistake?

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R