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lfoxtail
New Member

This was a pension payment and it is being treated as an IRA. How do I correct this or does it mater

It was not and IRA of any sort
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2 Replies
DianeW777
Expert Alumni

This was a pension payment and it is being treated as an IRA. How do I correct this or does it mater

Yes, you should correct it.  It's the check box on the 1099-R. Review the steps to go back to uncheck the box 7.

 

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

  1. Open or continue your return.
  2. In the Federal section, select Wages & Income.
  3. Scroll to locate Retirement Plans and Social Security.
  4. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).

You can also find the 1099-R section using Search. Open your return, enter 1099-r in the search bar, and select the Jump to 1099-r link.

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dmertz
Level 15

This was a pension payment and it is being treated as an IRA. How do I correct this or does it mater

What made you conclude that it is being treated as an IRA?  If it's just that TurboTax is asking how much of the distribution was RMD, pension payments are considered to be all RMD under the tax code.

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