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February 12, 2025
Question

1099-R income is from Annuity

  • February 12, 2025
  • 1 reply
  • 0 views

2024 Turbotax thinks our 1099-R which is from an annuity should be considered part of our RMD. This has not happened when filing with Turbotax in prior years.

 

It appears that Turbotax knows about the issue and is working on a fix. If so, when will we see the fix.

    1 reply

    RachelW33
    February 23, 2025

    If you receive periodic (monthly) payments from an Annuity, these are considered Required Minimum Distributions (RMD's).  

     

    When TurboTax asks for the RMD due by Dec 31, 2024, you should put the full amount of the distribution from Box 1 of your Form 1099-R.
     


     

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