Hello, Can't figure out how to input the 1099-R form in TT 2024. It says that it will not be ready till Jan 11 2025. Was advised by community that I can search forms.

Forum|Forum|1 year ago
December 24, 2024
2 replies
0 views

I have a simple request if you can please direct me. I only want to estimate taxes but can't figure out what to fill in the 1099-R form for my 403-B withdrawals....I only have 15k for the year to input but can't find out which form and fields to fill in! I call TT can was surprised that the support person didn't tell me about the available form. Yikes! Any suggestion would be greatly appreciated as I have to make my last withdraw for the year!

rjs

Employee

If you are using the desktop (downloaded) TurboTax software installed on your computer you can open a 1099-R form in forms mode and fill it in. Clicking Help Center will give you very extensive information about the entries.

If you are using TurboTax Online there is no way to enter a 1099-R until the question-and-answer interview section is available.

VolvoGirl

Employee

If you find form 1099R put the amount in box 1 and 2a. Put a 7 in box 7 for the code. Are you under 59 1/2?

81rxv1teAuthor

Hello and thank you VolvoGirl!

Hello!

Thanks so much for your quick reply! I do have the desktop version and have entered the amount based on what I have received for the 12 months - I am confident that I have the good estimate! I think I just need to enter the withholding about in the box: 4? Would that be correct?

You suggested I make an entry for box 7 code : I entered 7 for Normal Distribution. Just to be sure, that is for my 403B monthly withdrawals? {BTW age > 59-1/2 so no penalties?}

Just a quick question about box 2b as there are two boxes: {you asked me to check}

"Taxable amount not determined" AND

"Total distribution"

Not sure what that is but was advised to check - do I check one or both?

I see the box 4 for the Federal income tax withheld. Since I see from my retirement the 20% being held, I sent ahead and estimated.....I hope I got that one right!

Many thanks for your quick and thorough replies as appreciate it. As you can tell I am not a tax savvy person but will learn more one day! I will have more Q's one day when I return back to Canada...

Happy holidays!