1099R

Forum|Forum|2 years ago
February 19, 2024
2 replies
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my wife inherited an annuity and received a 1099R. When the data is entered it eventually comes up with 'Tell us when the person was born'. Although we check 'this person was born after December 31 1950 it come up with 'since you are over 73 was some of the money used for RMD. My wife is not over 73 and also I didn't think an annuity had an RMD

DianeW777

No, an annuity does not have an RMD. You should not be asked about the age of the plan initiator. I was unable to recreate your scenario and here are some steps as well as tips for entry.

The codes in Box 7 should direct TurboTax appropriately. I would expect a code 7 and code D in which case it will likely all be taxed.

Search (upper right) > Type 1099r > Click the Jump to... link > Select the 1099-R to be reviewed/edited
Make sure to select 'None of the above' on the screen 'Let us know a little more about this distribution'.
When you go through the questions be sure to select 'No' for IRA, HSA, etc.

Please update here with additional details if you have more questions.

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LimeyAuthor

thanks for the reply. I will try what you suggested. Just to give you more information. The annuity was inherited from my wife's mother. We received 2 payments. The 1099R we received had numbers in 1 and 5 only, and in 7 was 4D

LimeyAuthor

I tried to fill out the 1099-R using the method you suggested and I still get the same results, it comes up with 'we need to determine the age ...' with 3 choices. I choose 'Born after December 31 1950' and it says under the heading, About this Retirement Account - 'since Carol is over 73'. She isn't and its an annuity