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July 15, 2024
Question

Rederal tax return

  • July 15, 2024
  • 2 replies
  • 0 views

Turbotax is asking for a code from my Allianz RMD form.  There is not a code that I can find.  But Turbo tax will not let me continue without it.

 

 

2 replies

DoninGA
Employee
July 15, 2024

If you made a withdrawal from an IRA in 2023, the plan administrator would have sent you a Form 1099-R in January or February of 2024.

You enter the Form 1099-R on the federal tax return.  There is a code in box 7 of the form that you need to enter.

 

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

 

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

VolvoGirl
Employee
July 15, 2024

Did you get a 1099R form?  The most common code for box 7 is also a "7".   It would be code 7 for a RMD.   It is the same as the box #.  That is a common question we get.