Marsha2020
Level 4
02-08-2021
08:59 PM
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The software will compute the taxable amount after you have completed the 1099R worksheet. You will have to ask your client for the information to fill in the worksheet. Also have a look at the 2019 return to find out what’s been done in the past. Most if not all of this annuity will be taxable imo. I believe you will need to do a 2020 tax return.