topic Annuity income question in Retirement tax questions

Annuity income question

mefjr — Thu, 06 Jun 2019 06:29:51 GMT

Bought an annuity 5 years ago and cashed it in in 2018. Not a pension. Received 1099-R with taxable income in box 2a. Turbotax does not have 1099-R for non-pension annuity in the income section. Where do I input data? Am I stuck paying four years of income in one year?

Were federal and state taxes withheld, box 4 and box 12?...

DoninGA — Thu, 06 Jun 2019 06:29:52 GMT

Were federal and state taxes withheld, box 4 and box 12? What is the code shown in box 7? The taxable amount shown in box 2a is entered on your tax return as ordinary income and taxed at your current tax rate.

No taxes withheld

mefjr — Thu, 06 Jun 2019 06:29:54 GMT

No taxes withheld

This second answer does not apply. As I said in the orig...

mefjr — Thu, 06 Jun 2019 06:29:54 GMT

This second answer does not apply. As I said in the original question, this is not a pension plan annuity.

All Forms 1099-R are entered the same way in TurboTax. T...

dmertz — Thu, 06 Jun 2019 06:29:56 GMT

All Forms 1099-R are entered the same way in TurboTax. The taxable amount shown in box 2a is entirely includible in your 2018 AGI.

To enter a form 1099-R - Click on Federal Taxes (Persona...

DoninGA — Thu, 06 Jun 2019 06:29:56 GMT

To enter a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R