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posted Jun 4, 2019 10:41:42 PM

Where, if anywhere, does IRA distribution1099-R income ($850) for a 20 yr. old college student get reported?

It's the RMD on an inherited IRA. The student has no other income. I see info about Int. or Div. income, but not IRA distributions.

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1 Best answer
Level 3
Jun 4, 2019 10:42:26 PM

If that is the ONLY income he received in 2016, then it is NOT taxable.

If he is over the filing threshold (has a job or other taxable income), then the IRA distribution gets reported:

1. Go to Your 2016 Income Summary.

2.  Go down to Retirement Plans and Social Security.

3.  Click Start or Update by IRA, 401(k), Pension Plans (1099-R).

4.  Click Add Another 1099-R.

Enter the 1099-R EXACTLY as you have it.  It'll be calculated in with the college student's other income.

1 Replies
Level 3
Jun 4, 2019 10:42:26 PM

If that is the ONLY income he received in 2016, then it is NOT taxable.

If he is over the filing threshold (has a job or other taxable income), then the IRA distribution gets reported:

1. Go to Your 2016 Income Summary.

2.  Go down to Retirement Plans and Social Security.

3.  Click Start or Update by IRA, 401(k), Pension Plans (1099-R).

4.  Click Add Another 1099-R.

Enter the 1099-R EXACTLY as you have it.  It'll be calculated in with the college student's other income.