My 1099-R line 1 amount is actually a custodial fee taken and not a personal distribution, do I still need to enter into turbo tax?

[michhjen]

I received 2 1099-R but never took a personal distribution.  Those were actually custodial fees.  Why do I pay the tax on those?

[Ashby]

What letter code do you have in Box 7?

[Ashby · Accepted solution]

You would need to contact the financial institution to find out that information. But, I can say that if you get a 1099-R, it will be reported on your tax transcript and you should report it.