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February 28, 2023
Question

We had to pull out our 401K one time this year and when we reported it, it's now asking for a retirement date. What do we put since we're not retired?

  • February 28, 2023
  • 1 reply
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1 reply

February 28, 2023

I was able to recreate TurboTax asking for "What date retired" when I entered a 1099-R form.  Please see below the two scenarios depending on if you answer Yes or No on the Any Periodic Payments? screen.

 

  • On the Any Periodic Payments? screen, when I answered Yes, XXX got regular payments from this retirement account, the next screen asked for Payment Start Year, What date retired.
  • On the Any Periodic Payments? screen, when I answered No, XXX didn't get regular payments from this retirement account, TurboTax takes me to the Review your 1099-R info screen. 

 

Note: Funds that you receive at regular intervals (weekly, monthly, quarterly, annually) over a predetermined period of time, for example, 15 years, or for life.

  • Equal periodic payments are annual withdrawals that you make from a pension plan or 401(k) plan. The amount you withdraw is calculated so that the funds last throughout your expected lifetime.
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