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The code in Box 7 of your 1099-R helps identify the type of distribution you received. When the code is used to determine if your distribution is taxable or subject to an early withdrawal penalty. A distribution of code 3 in box 7 of your form 1099R means that you took a distribution due to a disability.
If you are under full retirement age at your work then the 1099R should show up on line 7 with W2 wages and if you were over the retirement age it will be listed on line 16 (line 12 on 1040A) as pension income.
Please follow the directions below to enter your 1099-R Form into TurboTax.
https://ttlc.intuit.com/replies/4194737
Note: If you have concerns about the accuracy of the information, contact the payer listed on the form to issue a corrected 1099-R, if necessary.
The code in Box 7 of your 1099-R helps identify the type of distribution you received. When the code is used to determine if your distribution is taxable or subject to an early withdrawal penalty. A distribution of code 3 in box 7 of your form 1099R means that you took a distribution due to a disability.
If you are under full retirement age at your work then the 1099R should show up on line 7 with W2 wages and if you were over the retirement age it will be listed on line 16 (line 12 on 1040A) as pension income.
Please follow the directions below to enter your 1099-R Form into TurboTax.
https://ttlc.intuit.com/replies/4194737
Note: If you have concerns about the accuracy of the information, contact the payer listed on the form to issue a corrected 1099-R, if necessary.
In box 7. What does that mean?
A Code 3 in Box 7 of a 1099-R means you are taking the distribution as a result of a disability.
As KatrinaB states above, the Box 7 codes identify the type of distribution and whether the distribution is taxable and/or subject to a penalty.
In the questions after you enter the 1099-R, it will ask you about your retirement age. If you are under the full retirement age then the distribution will appear on Line 1 of your Form 1040 with Wages and Salaries. If you are at or over full retirement age the distribution will appear on Line 4 of your Form 1040.
To enter the 1099-R into TurboTax:
@Iamblessed On the back of your 1099R it should have the instructions for each box and list all the codes. If you don't have it here is the blank 1099R. Scroll through the pages to see all the codes. They are on pages 7 & 9
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