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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

5 Replies

Entering IRA data - TurboTax Premier

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

1955trevor
Returning Member

Entering IRA data - TurboTax Premier

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?

 

 

Entering IRA data - TurboTax Premier

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

Entering IRA data - TurboTax Premier

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

Entering IRA data - TurboTax Premier

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