Form 1041 1099-R

[rtb27]

The trust received a 1099-R with a large amount in Box 1 (gross distribution) but 0 in 2a (taxable amount). TurboTax for business does not have an option for entering a full 1099-R. How do I enter these amounts? (I know that 1099-R goes under Other Income; I have been doing this for years, but have never received a 1099-R for the trust with zero taxable.)

Thank you.

[Anonymous_]

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@rtb27 wrote:

...I know that 1099-R goes under Other Income....

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The taxable amount is entered under "Other income". What other boxes had entries (if any) or boxes checkmarked? Did you read the Guidance in the program?

[DianeW777]

It depends.  First you should check to see if the box is checked beside 'Taxable amount not determined'. If that box is checked then you may need to do some digging to see if any or all of the income reported on the Form 1099-R is taxable.  The only way it would be tax free is if the decedent had paid any 'after tax' money into the plan.  If it was all contributed to by an employer it's all taxable.  It it was a deferred compensation plan then it will all be taxable.

If you find that none of the distribution really is not taxable (uncommon), then you should keep the document with the return and do not enter any amount on the Form 1041.

• Topic 410 Pensions & Annuities

[rtb27]

Thank you.