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February 29, 2020
Question

1099R distribution to Traditional IRA

  • February 29, 2020
  • 1 reply
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Entering 1099R Annuity distribution which went to a Traditional IRA.  That should be non-taxable, but the program doesn't ask for Traditional, only 401(k) and 403(b).   So, how do I handle this?

    1 reply

    February 29, 2020

    What code was in box 7? 

     

    Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry wasn't taxed please look at form 1040 line 4d (taxable amount), it should be 0 if all of it was rolled over.

     

    To preview Form 1040:

    1. Click on "Tax Tools" in the left menu
    2. Click "Tools"
    3. Click "View Tax Summary" in the Tool Center window
    4. Click on "Preview my 1040" on the left
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