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Level 1

Question

Where do I put annuity income

Forum|Forum|7 years ago
June 5, 2019
7 replies
40 views

No text available

TurboTax Deluxe Online

A

Anonymous

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.

TriciaDegroat29

Level 2

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

Alumni - Champ

@TriciaDegroat29 What is the rejection message/code?

Level 2

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.

Level 15

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.

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Level 2

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