IRA Distribution

Forum|Forum|5 years ago
May 10, 2021
1 reply
9 views

I filed taxes through Turbo Tax yesterday. After printing my taxes I see the income is double what it should be. This is caused by IRA distribution being filed as Capital Gain profit rather than distribution. Is there a way this can be corrected?

macuser_22

Alumni - Champ

IRA's are never capital gains. IRA distributions are entered with a 1099-R and go on the 1040 form line 4a and 4b - no where else.

What makes you think that?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

jgilfillan6Author

Level 2

I understand but I must have put it in in error. I have a 1099R and it asks for information from 1099 DIV. the capital gains line should not have anything in it. Is there a way I can correct it, it is doubling my income.