Skip to main content
April 29, 2024
Question

Form 1099-R

  • April 29, 2024
  • 2 replies
  • 0 views

I got this for year 2023.  Amount was transferred to investment.  How do I file my taxes?

 

box 1–$95,000

box2a- $44,000

box 2b- X-total distribution 

box 5-$50,000

box 7-7D

box 9a- 100%

box 16-$44,000

 

what do I do?

 

 

    2 replies

    LenaH
    April 30, 2024

    First, you will need to input your 1099-R. Then, on the screens that follow your input, you will be asked about rollovers. This is on the screen, Tell us if you moved the money through a rollover or conversion, which is below for additional reference. Answer this question according to the details of your transfer. 

     

    To get to the 1099-R area of TurboTax, please follow the instructions below:

    1. Open your return. 
    2. In the Federal section, select Wages & Income.
    3. Scroll to locate Retirement Plans and Social Security.
    4. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    SteamTrain
    Employee
    April 30, 2024

    And you do need to be clear as to what kind if account it was transferred to...the button you select.....if it just went to a regular personal investment account...and not to any kind of IRA, then you'd select the last button.

     

    For the box 7 code being a 7D...be aware that is actually two separate codes..a 7 and a D that go in two separate boxes at box 7.

    ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*