I received a 1099-R form with no federal taxes withheld for the year 2020. I initially claimed zero exemptions. My 1099-R did not exceed $11,000.00. Do I need to include this 1099-R in my Turbotax for my 2020 tax year ?
02335
2 Replies
macuser_22
Level 15
Feb 19, 2021 4:53:45 PM
Yes you sure do need to report it. Depending on the type of account the box 1 amount might be taxable and even if it is not, unless you report it the IRS will assume that it is and send a bill.