[Windows TT Deluxe]
I have a 1099-R from well-known investment firm for an IRA (rollover in 2023, no contributions, have taken some interest only). Federal tax was withheld, but no state tax. I live in Illinois.
On my 1099-R:
• Box 16 (State Distribution) has an amount. (Same amount as in boxes 1 and 2a).
• Boxes 14 (State Tax Withheld), 15 (State ID & Payer’s State No.) are all empty.
• The payer’s address is in Texas.
In TurboTax’s step-by-step entry for the 1099-R:
• If I enter only Box 16 per the form and leave Box 15 blank, TurboTax sets the State ID to “IL” after leaving and returning to the page.
• If I enter “TX” for State ID, the next time I visit the page, TurboTax shows "TX" in the first state line and "IL" in the second state line, but nothing else for the second state’s fields.
How to handle/what to put the State ID field? It this where I live or where payer is located?
Last year, I probably left the State ID blank and didn’t notice it must have defaulted to IL as that's what's there when viewing it w/ TT 2023.
[Windows TT Deluxe]
It's the state where you live when you receive the income, so it sounds like for you that would be IL.
with yoruself an IL resident, all the income on the 1099-R is potentially taxable by IL (Coming from a firm based in TX is immaterial).
So, an "IL" in the first half of box 15 would be appropriate. An IL registration number in the second half of box 15 shouldn't be required, as long as no taxes were withheld in box 14 (leave box 14 blank...don't put a zero in there)
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If the software complains anyhow, then as a second attempt, you could try leaving boxes 14, 15, 16 entirely blank.