topic Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is permanently disabled? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is/01/2199839#M147920 Tue, 13 Apr 2021 19:39:32 GMT debe1964 2021-04-13T19:39:32Z Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is permanently disabled? https://ttlc.intuit.com/community/retirement/discussion/is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is/01/2199839#M147920 Tue, 13 Apr 2021 19:39:32 GMT https://ttlc.intuit.com/community/retirement/discussion/is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is/01/2199839#M147920 debe1964 2021-04-13T19:39:32Z Re: Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is pe... https://ttlc.intuit.com/community/retirement/discussion/re-is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is-pe/01/2199872#M147923 <P>No one has the power to make something that is taxable be nontaxable. What is the code on your 1099-R? When did he become disabled?</P> Tue, 13 Apr 2021 19:48:50 GMT https://ttlc.intuit.com/community/retirement/discussion/re-is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is-pe/01/2199872#M147923 ColeenD3 2021-04-13T19:48:50Z Re: Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is pe... https://ttlc.intuit.com/community/retirement/discussion/re-is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is-pe/01/2199965#M147934 <P>2014 but got approved in 2019.&nbsp; the 1099 R is from my work 401K and we bought a house and used that for the main reason to withdraw the $22,000 from the 401k.&nbsp; i turned 55 in Sept of that year and it came as "taxable"&nbsp; &nbsp;.&nbsp; &nbsp;Also because he hadnt been working for 5 yrs, BECAUSE OF DISABILITY, we needed to borrow that money.&nbsp; It shouldn't be taxable but they say we need to have a CPA change the 1099-R to have that box checked and send to the IRS.&nbsp; Wondering if Turbo Tax has a CPA that can do this?</P> Tue, 13 Apr 2021 20:13:31 GMT https://ttlc.intuit.com/community/retirement/discussion/re-is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is-pe/01/2199965#M147934 debe1964 2021-04-13T20:13:31Z Re: Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is pe... https://ttlc.intuit.com/community/retirement/discussion/re-is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is-pe/01/2200031#M147945 <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">No. The only one that can change your 1099-R is the financial institution that issued it to you.&nbsp;Unless you qualify for an exception, you’ll pay a 10% additional tax penalty on the taxable amount of early distributions from your retirement account before reaching age 59 1/2.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">There are exceptions to the 10% tax penalty for early distributions:</SPAN></SPAN></P> <UL> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Death or total and permanent disability (you must be totally and permanently disabled)</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Series of substantially equal periodic payments based on life expectancy</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Qualified first-time homebuyer distributions up to $10,000</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Qualified higher-education expenses</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Certain medical insurance premiums paid while unemployed</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Unreimbursed medical expenses that are more than a certain amount of your adjusted gross income</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">IRS levy</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Certain distributions to qualified military reservists called to active duty</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">COVID-19 coronavirus-related distributions of up to $100,000 from January 1 to December 30, 2020</SPAN></SPAN></LI> </UL> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Once you enter the distribution information from your 1099-R form,&nbsp;TurboTax will help you check for any exceptions that could reduce the tax.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://www.irs.gov/taxtopics/tc557" target="_blank">Topic No. 557 Additional Tax on Early Distributions from Traditional and Roth IRAs</A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions" target="_blank">Retirement Topics - Exceptions to Tax on Early Distributions</A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><LI-USER uid="2705319" login="debe1964"></LI-USER></SPAN></SPAN></P> <P>&nbsp;</P> <P>&nbsp;</P> Tue, 13 Apr 2021 20:30:50 GMT https://ttlc.intuit.com/community/retirement/discussion/re-is-there-a-turbo-tax-cpa-that-can-change-my-2019-1099-r-to-non-taxable-since-my-husband-is-pe/01/2200031#M147945 LenaH 2021-04-13T20:30:50Z
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topic Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is permanently disabled? in Retirement tax questions
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Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is permanently disabled?
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Re: Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is pe...
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<P>No one has the power to make something that is taxable be nontaxable. What is the code on your 1099-R? When did he become disabled?</P>
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Re: Is there a turbo tax CPA that can change my 2019 1099-R to non taxable since my husband is pe...
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<P>2014 but got approved in 2019.&nbsp; the 1099 R is from my work 401K and we bought a house and used that for the main reason to withdraw the $22,000 from the 401k.&nbsp; i turned 55 in Sept of that year and it came as "taxable"&nbsp; &nbsp;.&nbsp; &nbsp;Also because he hadnt been working for 5 yrs, BECAUSE OF DISABILITY, we needed to borrow that money.&nbsp; It shouldn't be taxable but they say we need to have a CPA change the 1099-R to have that box checked and send to the IRS.&nbsp; Wondering if Turbo Tax has a CPA that can do this?</P>
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<P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">No. The only one that can change your 1099-R is the financial institution that issued it to you.&nbsp;Unless you qualify for an exception, you’ll pay a 10% additional tax penalty on the taxable amount of early distributions from your retirement account before reaching age 59 1/2.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">There are exceptions to the 10% tax penalty for early distributions:</SPAN></SPAN></P> <UL> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Death or total and permanent disability (you must be totally and permanently disabled)</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Series of substantially equal periodic payments based on life expectancy</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Qualified first-time homebuyer distributions up to $10,000</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Qualified higher-education expenses</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Certain medical insurance premiums paid while unemployed</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Unreimbursed medical expenses that are more than a certain amount of your adjusted gross income</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">IRS levy</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Certain distributions to qualified military reservists called to active duty</SPAN></SPAN></LI> <LI><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">COVID-19 coronavirus-related distributions of up to $100,000 from January 1 to December 30, 2020</SPAN></SPAN></LI> </UL> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Once you enter the distribution information from your 1099-R form,&nbsp;TurboTax will help you check for any exceptions that could reduce the tax.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://www.irs.gov/taxtopics/tc557" target="_blank">Topic No. 557 Additional Tax on Early Distributions from Traditional and Roth IRAs</A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions" target="_blank">Retirement Topics - Exceptions to Tax on Early Distributions</A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><LI-USER uid="2705319" login="debe1964"></LI-USER></SPAN></SPAN></P> <P>&nbsp;</P> <P>&nbsp;</P>
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