Question

1099-R

Forum|Forum|5 years ago
February 20, 2021
1 reply
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I received a 1099-R form with no federal taxes withheld for the year 2020. I initially claimed zero exemptions. My 1099-R did not exceed $11,000.00. Do I need to include this 1099-R in my Turbotax for my 2020 tax year ?

macuser_22

Employee

Yes you sure do need to report it. Depending on the type of account the box 1 amount might be taxable and even if it is not, unless you report it the IRS will assume that it is and send a bill.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**