I am married filing jointly. I have just started and have only entered my wife's W2. my second entry is my wife's 1099-R which is 100% of her distribution from her pension. Turbotax is asking "ME" because I am over 70 1/2... my wife is 65...was this 100% of my RMD. This was for my wife not "ME".
How do I answer this?
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There is an entry you will make on the 1099R that will ask if that is your 1099R or your spouse.
When you get to the screen where it asks you what type of 1099R it is, there is a prompt in the middle of the form that says Tell Us Which 1099-R you have you will see a choice that says This form 1099-R belongs to here is where you make the choice that it is hers. Turbo Tax will know that she did not turn 70 1/2 during the year and will not ask RMD information.
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There is an entry you will make on the 1099R that will ask if that is your 1099R or your spouse.
When you get to the screen where it asks you what type of 1099R it is, there is a prompt in the middle of the form that says Tell Us Which 1099-R you have you will see a choice that says This form 1099-R belongs to here is where you make the choice that it is hers. Turbo Tax will know that she did not turn 70 1/2 during the year and will not ask RMD information.
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Dave, Thank you very much...it was exactly as you said. You're the best !!!!!
my 1099 R does match the numbers on your form.
Made a mistake my 1009-R numbers don't match the number on your form.
@Bob821 wrote:
Made a mistake my 1009-R numbers don't match the number on your form.
Then edit the Form 1099-R.
Enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R
1099-R does not come up when I search. I am using Turbo Deluxe. Do you need another version?
You can use the Deluxe version to report Form 1099-R.
Follow the steps below to add the form:
Hello - I am confused as to why I received a 1099-R form and if the amount on the form should be taxable. My husband contributed money towards his Traditional IRA, which was then immediately converted to his Roth IRA. I understand that this is known as a Backdoor IRA, and is not supposed to be taxable. However, when I entered the Box 1, 2A and 7 information from the 1099-R form into TurboTax, my refund amount reduced, making me think we are being taxed on the contribution. Can you please advise if I was supposed to receive the 1099-R form, and if the money should in fact be taxable? Thank you! Michelle
My wife and I both received a 1099-R covering Civil Service pensions. I have entered the appropriate data in TT but upon review it seems the amounts are considered IRA distributions. I am asked for the "annuity starting date" and the "plan cost at annuity starting date". These are pensions, not annuities. How do I get this corrected?
Hi David (and everyone)
I had a question regarding excess contribution to Roth IRA, - I was hoping for some last minute guidance. Here are the basics:
Made $1,800 in excess contributions during the 2019 calendar year
Realized made excess contributions last week BEFORE filing my taxes
Excess contributions withdrawn and earnings on excess contributions withdrawn (will be receiving checks for both)
Earnings on excess contributions in 2019 were $45.43
Do I have to report anything on my 2020 taxes that I am about to file (tomorrow!)?
What form/information do I need to report on my taxes before I file them (tomorrow) to avoid having to do an amendment? Is it a 2019 1099-R that will be sent to me that contains the information? (If so, going to try and get this information from the financial institute tomorrow - not sure if do-able).
(and, do i need to report the excess contribution anywhere or do i treat it as though it did not happen since it was withdrawn prior to the tax filing?)
Further, I realized excess contributions were made so far this year in 2020, I have already halted further contributions and requested those be withdrawn and sent to me along with earnings on the excess contributions. When I file in 2021 (for 2020 tax stuff) will I report this the same way - using a 1099-R form for the earnings on excess contributions?
Most importantly, thank you!
I have a 1099-R to file
To enter a Form 1099-R in TurboTax online, here are the steps:
Form 1099-R is issued when taxpayer takes distribution from his or her retirement plan including an IRA.
@Alantha McNeal
where do you file then I don't see them or1099 sm
Form 1099-R is used to report the distribution of retirement benefits such as pensions, annuities or other retirement plans.
To enter your 1099-R:
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