RMD Annuity

[robi7]

My annuity was transferred from Co. A to Co. B in the middle of 2024.

Turbo tax asks if the annuity I received from Co. B is the FIRST TIME.

Should I answer NO because it is just a continuation of annuity from Co. A?

[JohnB5677]

Please clarify your question.

• What form are you inputting from?
• It doesn't sound like a 1099-R.
• Are you entering this in the Retirement plans & Social Security section?

Please contact us again to provide some additional details. 

[robi7]

Input form is 1099-R

[JohnB5677]

If you are entering a 1099-R from Company-A, and you are rolling it over to Company-B You should enter the information from the 1099-R exactly as it shows.

Under Federal

1. Wages & Income
2. Scroll to IRA, 401(k), Pension Plan Withdrawals (1099-R) [Add/Edit]
3. Did you get a 1099-R in 2024? [yes]
4. If you are adding a 1099-R [+ Add another 1099-R]
5. The steps are the same from here
6. [Change how I enter my form]
7. [Type it Myself]
8. If necessary chose a person [Continue]
9. Who gave you a 1099-R? Click box [Continue]
10. Post the 1099-R
11. Be sure to enter box 7 [continue]
12. Do you have info in Box 2a or Box 2b? Yes/No
13. Is the IRA/SEP/SIMPLE box on this 1099-R checked? Probably not
14. Where is your distribution from? Probably None of the above
15. This should be a Qualified Plan
16. Do any of these situations apply to you?
17. How much of the $XX,XXX was an RMD?  None of this withdrawal was an RMD
18. Tell us if you moved the money through a rollover or conversion  I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
19. Did you roll over all of this $6,000.00 (Box 1) to another retirement account? Yes, I rolled over $6,000.00 to an IRA or other retirement account (or returned it to the same account).

 

[robi7]

this is not a rollover.

Co. A was acquired by Co. B

I checked with Co. B , and they said this is an RMD.