1099-R

[dboshers]

Why can't I put in my 1099-R info in turbo tax 2020.  The system states that IRS hasn't put all the information needed to calculate .  Is this true or am I doing something wrong.  

[JotikaT2]

You can enter your 1099-R into TurboTax by following the steps below.  

1. Select Federal Taxes
2. Select Wages & Income
3. Select I'll choose what I work on
4. Select continue until you see Your 2020 Income Summary.
5. Scroll down until you see the section titled Retirement Plans and Social Security
6. Select update/start to the right of IRA, 401(k), Pension Plans (1099-R)
7. Enter your information as listed on your 1099-R form.  Be sure to answer all of the questions as prompted. 

If you are still having issues, please comment so we can assist you.

[dboshers]

I did everything you ask me to do and I still could not put in my 1099-R information.

I could not have my 1099-R info uploaded to turbo tax because they were not on the list to perform the function.

When I went to put them in manually, that is when I get the screen that states IRS has not put all info in .  

Is there a problem with the disk I bought to do my taxes.

[MarilynG1]

@dboshers Your TurboTax desktop program may need to be manually updated for CARES Act Retirement Distribution changes.

Click 'Online' from the top menu, then choose 'Check for Updates'.

The newly enacted economic stimulus package allows those negatively affected by COVID-19 to borrow up to $100,000 from their 401(k) and IRAs without penalty.

It also allows the borrower to pay the taxes on that withdrawal over three years rather than all at once.

Click this link for more info on How to Enter 1099-R. 

[dboshers]

I did as you asked and tried to check for new uploads  from the top line of turbotax.  I checked to see if anything was down loaged and the last  new downloads was performed march29,20121 @930am.  I tried 3 times today to load new uploads.

  How do you manually update Cares Act Retirement Distribution Changes?

Also look and tried again to put 1099-R  info in did not work got the same message about IRS.  But I could not fine Select- Change how I enter my form.  The only thing I have is( If you want to put info in manually).  Can't do it the other way.

[SamS1]

You can enter your Cares Act distribution manually in TurboTax Desktop through Forms mode.  

1. In upper right hand corner of Desktop select "Forms"
2. You will see in the right hand column all the forms in your return.  Select the 1099R you wish to work on
3. Scroll down the form and you will see the Covid distribution questions to manually adjust.
4. Once finished, select "Step by Step" in the upper right and corner to return to Step by Step mode.

I would recommend deleting any 1099Rs you currently have in your account by selecting the Delete button next to the 1099R then re-entering them by selecting "I'll type it Myself"