1955trevor
Returning Member

Entering IRA data - TurboTax Premier

Hello,

 

Where do I enter a distribution (withdrawl) from an IRA in the USA?

 

I need to report gross distribution and tax withheld from my US Form 1099-R.

 

Thank you,

Trevor

Investors and rental owners

Put it on the Foreign slip, but enter it as "other foreign income".

1955trevor
Returning Member

Investors and rental owners

I just spoke (at great length) with an agent from the CRA. According to internal CRA procedures a distribution from an IRA must be treated as income from a "foreign retirement arrangement" and must be included on T1 Line 11500 as "other pensions and superannuation"; however it must NOT be included in calculations for pension splitting.

 

According to the agent, entering the IRA on T1 Line 13000 (by way of "other foreign income" on the T-Slip Foreign in TurboTax") in order to avoid the pension splitting issue could be construed as failing to properly report income to the CRA.

 

Is there a way in TurboTax to enter an IRA distribution so that it appears on T1 Line 11500 but does not get included in the pension splitting amount?

 

 

Investors and rental owners

If you are using TurboTax CD/download the only way to do this is to override it. 

 

Thank you for choosing TurboTax.

1955trevor
Returning Member

Investors and rental owners

If I override it then I am no longer able to Netfile. That is not a very good solution. 

Investors and rental owners

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