topic Re: W2 Box 2 in Get your taxes done using TurboTax

W2 Box 2

gebasden50 — Thu, 11 Mar 2021 18:12:48 GMT

I am a retired federal employee. My form indicates it is a 1099-4. Should I treat it as a 099-4 or s a W-2

Thanks.

George

Re: W2 Box 2

VolvoGirl — Thu, 11 Mar 2021 18:18:02 GMT

It's a 1099-R.

Enter a 1099R under
Federal Taxes on left
Wages & Income at the top

Then scroll way down to Retirement Plans and Social Security
Then IRA, 401(k), Pension Plans (1099R) – Click Start

If you are filing a Joint return be sure to pick which person it is for.

Re: W2 Box 2

Hal_Al — Thu, 11 Mar 2021 18:18:19 GMT

You mean 1099-R?

To report retirement income, you enter your 1099-R. Do not enter retirement income in the wage (W-2) section.

In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in Home & Business)

- Wages & Income

Scroll down to:

-Retirement Plans & Social Security

-IRA, 401(k), pension Plans (1099-R)

Re: W2 Box 2

gebasden50 — Fri, 12 Mar 2021 15:29:22 GMT

No, I meant 1099-A

Re: W2 Box 2

gebasden50 — Fri, 12 Mar 2021 15:31:21 GMT

It is a 1099-A for sale of Timeshare.

Re: W2 Box 2

Irene2805 — Fri, 12 Mar 2021 15:43:27 GMT

If you received a 1099-A it means that the lender has taken back the property. Form 1099-A is not reportable on your tax return. Quite often the lender will then issue a 1099-C for cancellation of debt. Cancellation of debt is considered income.

Please see this TurboTax Help article for more information: What do I do with Form 1099-A? - TurboTax

Re: W2 Box 2

gebasden50 — Fri, 12 Mar 2021 15:47:31 GMT

Thank you. That is exactly what happened. However they have not sent us a 1099-C yet. Appreciate your help.

George