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Best Answer Click here
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Here is a Help article, with Codes:
https://proconnect.intuit.com/community/individual/help/proseries-form-1099-r-faq-s/00/4853
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I report both in Other Income, line 8. i.e.,
Gross distribution $10,000
Less non taxable portion $-9,000
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If that code means this is from an annuity, there likely is basis or costs that explain the gross vs taxable difference.
More details always help.
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Yes, that is what I finally did. Remember, the 1041 Estate and Trust Form does not show a 1099R in the forms selection. I finally had to manually hack it by putting in the amount of reduction between box 1 and box 2 as a negative figure in the "Other income" input line 8, and then line the reduced amount shows up in the right-side income on line 8
Thanks for your response.
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I also put Code D - 2 on Line 8 to distinguish the character of the distribution.
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That Code D also indicates this is subject to Net Investment Income tax so take that into consideration for Form 8960 and/or K-1s
The more I know the more I don’t know.