turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Deciphering Your Tax Forms on Feb 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

rikellum
New Member

Where do I put annuity income

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

7 Replies
JulieH1
New Member

Where do I put annuity income

Your annuity provider should have sent you a 1099-R.

The 1099 R will be entered in the Retirement Plans and Social Security section.

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

This section will also include an annuity distribution.

Form 1099 R is used for all types of retirement accounts. The data entry is the same for distributions from pensions, IRAs, 401ks and annuity distributions.

Where do I put annuity income

i’m trying to do my return and it won’t let me and it keeps getting rejected 

Where do I put annuity income

@TriciaDegroat29  What is the rejection message/code? 

bartonma
New Member

Where do I put annuity income

My 1099-R has an amount of $5541. The annuity company told me I would only have to pay tax on the earnings which was $541. The amount put into the annuity when purchased was $5000 post tax and should not be counted as income. Also the annuity has past its maturity date. 

JamesG1
Employee Tax Expert

Where do I put annuity income

Where are you seeing the amount of $5,541 on the 1099-R?  Is it in box 1 or box 2a?  Or somewhere else?

 

From the information that you provided, I suspect box 1 shows $5,541 and box 2a shows $541.

 

Please clarify.

 

@bartonma

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
bartonma
New Member

Where do I put annuity income

Box one shows $5541 and box 2 is empty. The $541 is shown on the earning statement  from the institution. 

JosephS1
Expert Alumni

Where do I put annuity income

It depends on what form you are referring to.  Generally annuities are reported on Form 1099-R.  If this is a transfer from one to another it may be on Form 1035.  Please clarify in order to correctly respond to your question.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question