I received a Form 1098-Q for an IRA transfer into a Qualifying Longevity Annuity Plan (QLAC). Where and how do I report the amounts in Turbo Tax?

[mikeeb1025]

The 1098Q form you received is an INFORMATION form only.  It does not indicate that any taxable income was generated from the issuer.  As of this date Turbo-Tax does not provide any assistance or input forms for this notice.  The only thing you should be aware of is that if you are subject to the Minimum Required Distribution rules, then it is to your advantage NOT to add the amount in Box 3  to the total Market Value of all your retirement accounts in calculating the RMD for this year (2016).  The form, which is filed with the IRS, basically lets the IRS know that this amount should NOT be used in calculating your RMD for the year.  You can safely omit reporting any amounts shown on your tax return.