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My annual income last year was just under $9 thousand. I also took a partial payment of $7 thousand, approximately, from my retirement account. How do I need to file?

 
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Employee Tax Expert

My annual income last year was just under $9 thousand. I also took a partial payment of $7 thousand, approximately, from my retirement account. How do I need to file?

You may be able to use the Free Edition of TurboTax if your $9K of income was paid on a W-2.   If so, enter your W-2 in the wages section and you should have received a 1099-R for the retirement distribution you took.  The Free Edition handles W-2s and 1099-Rs.  

 

Here's how to enter your 1099-R in TurboTax:

  1. Open (continue) return if you don't already have it open.
  2. Inside TurboTax, search for 1099-R and select the Jump to link in the search results.
  3. Answer Yes on the Your 1099-R screen, then select Continue.
    • If you land on the Your 1099-R Entries screen instead, select Add Another 1099-R.
  4. Select how you want to enter your 1099-R (import or type it in yourself) and then follow the instructions. You can add up to 20 1099-Rs.

 

 

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