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New Member
posted Jun 5, 2019 4:06:33 PM

Record a withdrawal from an IRA

If I need to record a withdrawal from an IRA, which version of Turbo Tax do I need?

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1 Best answer
Expert Alumni
Jun 5, 2019 4:06:34 PM

You can enter a 1099-R in any version of Turbo Tax, including Free.

You will only need to upgrade to Deluxe if you need to complete Form 5329 due to an early withdrawal penalty or exception. You will be prompted to upgrade from Free, so no need to start in a higher version. Upgrade only if needed.

  • Federal Taxes
  • Wages and Income
  • Retirement Plans and Social Security
  • IRA, 401(k), Pension Plan Withdrawals (1099-R) Start

1 Replies
Expert Alumni
Jun 5, 2019 4:06:34 PM

You can enter a 1099-R in any version of Turbo Tax, including Free.

You will only need to upgrade to Deluxe if you need to complete Form 5329 due to an early withdrawal penalty or exception. You will be prompted to upgrade from Free, so no need to start in a higher version. Upgrade only if needed.

  • Federal Taxes
  • Wages and Income
  • Retirement Plans and Social Security
  • IRA, 401(k), Pension Plan Withdrawals (1099-R) Start