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rdavis0517
Returning Member

We received (2) 1099-R forms but turbo tax is only asking me the COVID questions on the 1st one.

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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4 Replies

We received (2) 1099-R forms but turbo tax is only asking me the COVID questions on the 1st one.

What code is in box 7?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
rdavis0517
Returning Member

We received (2) 1099-R forms but turbo tax is only asking me the COVID questions on the 1st one.

1M

rdavis0517
Returning Member

We received (2) 1099-R forms but turbo tax is only asking me the COVID questions on the 1st one.

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!!

We received (2) 1099-R forms but turbo tax is only asking me the COVID questions on the 1st one.


@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.

 

 

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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