A 1099-R form records distributions you received during the year from certain retirement accounts, including 401(k), 403(b) and IRA accounts. Income listed on a 1099-R form can be taxable or tax-free, and if you have withdrawn money before retirement age, may be subject to early distribution penalties. Many people use automated tax-return programs, such as the Internet-based TurboTax, to help them report this income correctly and avoid penalties from the Internal Revenue Service (IRS).
Log in to your TurboTax account.
Click the "Federal Taxes" tab and then choose "Wages & Income" from the options that appear below the tab.
Locate the "Retirement Plans and Social Security" group and then select the "IRA, 401(k), Pension Plans" category.
Enter your 1099-R information by following the TurboTax directions. Be sure all the information on your 1099-R form is properly entered.