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Returning Member
posted Apr 17, 2024 4:40:44 PM

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

0 5 2557
5 Replies
Moderator
Apr 17, 2024 5:57:45 PM

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

Returning Member
Apr 25, 2024 1:22:52 PM

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?

 

 

Moderator
Apr 25, 2024 1:53:00 PM

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

 

Thank you for choosing TurboTax.

Returning Member
Apr 25, 2024 11:11:34 PM

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

Intuit Alumni
Apr 26, 2024 7:40:31 AM

For further help with this situation, we believe your best option is to contact our telephone support team as they have the option to view your screen to try and resolve the issue. To contact them, please follow this link: Contact Us. When asked if you wish to receive an email say NO then say "speak to a representative" then hold the line.

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