2845489
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Entering 1099-Q Data

I am entering data from my 1099-Q. This includes Gross Distribution, Earnings and Basis. As I enter these amounts, the program automatically rounds that number up or down. When finished, I am told that the Earnings + the Basis must equal the Gross Distribution. Of course, it does, on the actual 1099-Q. But within the program it doesn't because each of the components are rounded as you enter them. Example: 1099-Q Earnings of $3.50 and Basis of $5.69 = Gross Distribution of $9.19. But when you enter the data, it changes it to Earnings of $4 and Basis $6 for a Gross Distribution of $10. How can this be fixed?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Hal_Al
Level 15

Entering 1099-Q Data

You have to force it to match, at the 1099-Q screen.  Adjust the basis, since that number doesn't affect  the calculations. 

In your example, change basis to $5.49 or less. 

 

 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question