We received (2) 1099-R forms this year. Turbo tax is asking me the questions about COVID on the 1st 1099-R but not on the 2nd. Why won't turbo tax ask me the COVID questions about the 2nd 1099-R?
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What code is in box 7?
1M
I just realized when I uploaded the information that box didn't get entered. Now that I have it entered, it is asking me the information. Thank you!!
@rdavis0517 wrote:
1M
Code M is not a distribution that you received. It means that you no longer work for the employer with the plan and the money was used to pay off a loan.
Code M does allow you to roll an equal amount of money into a Traditional IRA using other funds if done before the due date of the return (April 15), or Oct 15 if you file an extension before April 15.
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