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- Code 7D in annuity income to be done manually in 1041
Code 7D in annuity income to be done manually in 1041
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Greta
Level 9
03-27-2022
09:16 AM
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I almost made a huge error with big numbers. The annuity income comes into 1041 as Other Income and does not ask for the 7D code. I almost forgot to put it manually into Form 8960 because I'm so used for the software to take care of that. I wonder if I may have made this error in the past, though no repercussions from IRS. I wonder if they have methods of tracking this code.
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