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

1099-R

Lenell — Sat, 20 Feb 2021 00:46:00 GMT

I received a 1099-R form with no federal taxes withheld for the year 2020. I initially claimed zero exemptions. My 1099-R did not exceed $11,000.00. Do I need to include this 1099-R in my Turbotax for my 2020 tax year ?

Re: 1099-R

macuser_22 — Sat, 20 Feb 2021 00:53:45 GMT

Yes you sure do need to report it. Depending on the type of account the box 1 amount might be taxable and even if it is not, unless you report it the IRS will assume that it is and send a bill.

Re: 1099-R

Lenell — Sat, 20 Feb 2021 22:57:39 GMT

Macuser_22,

Thank you ! ! !