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J
jeff_anderson2002
March 15, 2025
Question

I am entering my Montana Teachers Retirement 1099-R into turbotax. My pension is not a annuity. How do I get turbotax from treating it as an annuity?

  • March 15, 2025
  • 1 reply
  • 0 views
I get a monthly check from the state of Montana. How do I accurately represent this in turbotax?

    1 reply

    DoninGA
    DoninGA
    Employee
    March 15, 2025

    What is the code in box 7 of the 1099-R?  Is there an amount in box 2a? Is the box for IRA/SEP/SIMPLE not checked?

    If this is a pension payment and you are being asked for an RMD then the entire amount from box 1 of the 1099-R is the RMD.

    When asked if this a Qualified or Non-Qualified Plan, select Qualified

    J
    jeff_anderson2002Author
    March 15, 2025

    Box 7 has the code of 7

    Box 2a has the amount of my taxable income, which is the same as box 1 (gross distribution)

    IRA/SEP/SIMPLE is not checked

    DoninGA
    DoninGA
    Employee
    March 15, 2025

    @jeff_anderson2002 Thank you for the information.  Based on that, the program should not be addressing this as an annuity but as a straight pension.

    Do any other boxes on the Form 1099-R have an amount entered that is not a 0?  If not, I would delete the Form 1099-R and re-enter manually, which should clear up the problem.

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