topic Mine is not an IRA acct ...it's my Teacher Retirement check?? in Retirement tax questions

Mine is not an IRA acct ...it's my Teacher Retirement check??

jane-hill — Mon, 14 Oct 2019 14:44:22 GMT

Re: Mine is not an IRA acct ...it's my Teacher Retirement check??

xmasbaby0 — Mon, 14 Oct 2019 15:09:15 GMT

You have a 1099R to enter? And you are are receiving a monthly check from Teacher's Retirement?

Go carefully through the screens and say you "did something else " (cashed it out etc.) .....a few screens later you will be asked if you received regular periodic payments....say yes.

Re: Mine is not an IRA acct ...it's my Teacher Retirement check??

macuser_22 — Mon, 14 Oct 2019 15:13:09 GMT

If the IRA/SEP/SIMPLE box (next to box 7 on the TurboTax 1099-R data entry screen) is not checked on your 1099-R (it should not be) then be sure NOT to check it in TurboTax or it will be treated as a IRA when is it not.