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shg
Level 2
September 25, 2024
Question

1099-R Summary

  • September 25, 2024
  • 2 replies
  • 0 views

on the Turbo Tax Line 26 Instructions it says  "this does not include distributions with a Cose  ...."D"  does that mean I don't include the 1099-R's that have a code D in box 7 in , my investment income for the year

 

    2 replies

    D
    Employee Tax Expert
    dev145Employee Tax Expert
    Employee Tax Expert
    September 25, 2024

    Hello shg,

     

    If you have a 1099-R , regardless of distribution code , you should always report it on your return and answers all the questions. TurboTax will calculate taxable part based on the answers. 

    Thanks for participating in TurboTax's Ask the Expert event today. I hope this information was helpful!

    S
    shgAuthor
    Level 2
    September 25, 2024

    but what does it mean in the instructions that says  This does not include distribuiton swith a code...."D"  that implies that it should be excluded in calculating Net Investment Income Tax

     

    D
    Employee Tax Expert
    dev145Employee Tax Expert
    Employee Tax Expert
    September 25, 2024

    Will it be possible for you to provide more details or a image/picture so that we know which section you are seeing this instructions? 

    D
    DashonnonH
    Level 5
    September 25, 2024

    Hi, I am not clear about the line 26 instructions you are referring to...

     

    However, you will not include your 1099R in investment income section; enter your 1099R in the Retirement  and Social Security section. 

     

     

    Thank you for joining us today!

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