topic Re: 1099R in Get your taxes done using TurboTax

1099R

marcw — Wed, 29 Mar 2023 22:44:38 GMT

1099R Box 2a (taxable amount) is left blank. However, Box 4 (Fed income tax withheld) is filled in. TT review says that Box 2a should be filled in and advises that it should be reviewed.

Re: 1099R

TeresaM — Wed, 29 Mar 2023 23:04:15 GMT

If Box 2a is blank (empty) on your Form 1099-R, the taxable portion of your distribution needs to be calculated:

If the distribution is from a Traditional IRA, we'll ask you some questions regarding your non-deductible contributions and then calculate the taxable amount based on your information.
If the distribution is from a pension, we’ll consider the entire distribution taxable unless you can calculate the taxable amount and enter it in Box 2a. Don't enter an amount unless you know the taxable portion of your distribution. If you are unsure, you can contact the administrator who sent the form.

Re: 1099R

marcw — Wed, 29 Mar 2023 23:35:41 GMT

Traditional IRA-$360.

Thx!

Re: 1099R

AmyC — Wed, 29 Mar 2023 23:56:57 GMT

If you have always been able to make deductible contributions to your traditional IRA, the full distribution amount is taxable.

If you have put after tax dollars into the IRA, you file a form 8606 each year to keep up with your basis and you would use that information to fill out the non-deductible contributions when asked. The program will calculate the taxable amount.

If you don't have an 8606 filed each year, the whole amount is taxable.