Data entry for 1099-R partly taxable distributions
To enter 1099-R partly taxable distributions for 1041 returns:
- Go toOrganizer,Source Documents (1099s),1099-R, and thenPartly Taxable Distributions.
- Determine the type of annuity of pension:
- regular pension or annuity
- 101(d) annuity
- 101(d)
- Enter the amount of cost in the plan including any death benefit exclusion (if different than the box 9b amount).
- Enter the amounts previously recovered tax free in prior years for annuities beginning after 1986.
- Enter the taxable portion override, if needed.
- Follow the next set of instructions based on the method you're using.
- If using the simplified method, continue with this step. If using the general rule method, skip to step 10. Enter the annuity start date.
- Determine if the annuity start date's after 12/31/1997 and payments are for your life and that of the beneficiary. This option forces use of table 2 in computing line 3 of the Simplified Method Worksheet. Enter the amount from line 4 of last year's worksheet. If your annuity starting date was before this year and you completed this worksheet last year, then skip line 3.
- Enter the number of months for which this year's payments were made.
- Enter the expected return (if a regular pension or annuity).
- Enter the number of years in which payments are to be received (if a §101(d) annuity).
- And lastly, enter the percent or amount not taxable (override).
