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Form 1099-R from insurance company where do I input information in Turbo Tax for Estate

Forum|Forum|4 years ago
March 29, 2022
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I have the 1099-R from the insurance company. But I do not see a form for inputting information as laid out on the 1099-R into the Estate Tax return.

Best answer by Cynthiad66

Distributions reported on Form 1099-R should be reported on line 8 of Form 1041 (Other Income.

Yes, you would go to other income or Loss section in your Trust account and enter the taxable portions of your 1099R. For the 1099R, you will enter "1099-R Box 2a" as the description and taxable.

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Cynthiad66Answer

Distributions reported on Form 1099-R should be reported on line 8 of Form 1041 (Other Income.

Yes, you would go to other income or Loss section in your Trust account and enter the taxable portions of your 1099R. For the 1099R, you will enter "1099-R Box 2a" as the description and taxable.

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StricklandHortonAuthor

Thank you very much!!!! I listed the amount in box 2a on line 8 of Form 1041 (Other income) as instructed, had the insurance company deducted all Federal and State Taxes from the taxable portion of deceased dad annuity prior to payment. How do I list the deducted Federal and State Taxes on Estate Tax Form 1041?

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Cynthiad66

For tax withheld on a 1099, enter Forms Mode, open your 1041 and scroll down to Schedule G. Enter the amount withheld on Line 14 and check the 1099 box (indicating the withholding is from a 1099).

With respect to states, it probably depends upon the state as to whether the information from the federal return ports to the particular state return. Also, note that the majority of states, around 30 or so, are not supported at all in the 1041 module of TurboTax Business.

Click here to determine if your state is supported for form 1041 on the TurboTax Business software.

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