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Enter Annuity employee contributions

Forum|Forum|5 years ago
April 14, 2021
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This is a 1099-R Annuity Paid from OPM

Box 2a is smaller than Box 1.

Box 5 is my total insurance premiums deducted from my annuity for 2020

Box 9b has an entry. What do I do with this in Turbotax?

Best answer by npierson777

That all sounds correct, the taxable amount could be smaller that total amount of the distribution, the insurance premiums and your contribution from which is in box 9 isn't taxable. You need to enter the amounts into TurboTax exactly as it is on the Form 1099-R

Here's how to enter your 1099-R in TurboTax:

Open (continue) return if you don't already have it open.
Inside TurboTax, search for 1099-R and select the Jump to link in the search results.
Answer Yes on the Did you get a 1099-R? screen.
- If you land on the Your 1099-R Entries screen instead, select Add Another 1099-R.
Select which option matches your form and Continue.
You can import your form directly from your financial institution by searching or selecting yours from one of the options on the screen. You'll be prompted to enter your financial institution account information, and TurboTax will directly import your forms.
- If you prefer to type it in yourself, select Change how I enter my form and continue through.

N

npierson777Answer

That all sounds correct, the taxable amount could be smaller that total amount of the distribution, the insurance premiums and your contribution from which is in box 9 isn't taxable. You need to enter the amounts into TurboTax exactly as it is on the Form 1099-R

Here's how to enter your 1099-R in TurboTax:

Open (continue) return if you don't already have it open.
Inside TurboTax, search for 1099-R and select the Jump to link in the search results.
Answer Yes on the Did you get a 1099-R? screen.
- If you land on the Your 1099-R Entries screen instead, select Add Another 1099-R.
Select which option matches your form and Continue.
You can import your form directly from your financial institution by searching or selecting yours from one of the options on the screen. You'll be prompted to enter your financial institution account information, and TurboTax will directly import your forms.
- If you prefer to type it in yourself, select Change how I enter my form and continue through.

P

PMC44Author

Where do I find the "jump to" link?

JohnB5677

Jump to is in he search feature in the top right corner. I prefer to give you the details of how to post your retirement.

This is how to post a 1099-R

Login to your TurboTax Account
Click "Wages & Income" on the top
Scroll down to "IRA, 401(k), Pension Plan Withdrawals (1099-R)"
Answer "Yes" to the question "Did You Have Any of These Types of Income?"
Click "I'll Type it Myself"
Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
Click "Continue"
From here TurboTax will walk you through entering your Form 1099-R