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1099R summary form not working correctly for IRA to HSA rollover
In 2023 I did a once in a lifetime rollover from my IRA to an HSA. My IRA custodian sent me a 1099R with code G, total distribution and no taxable amount which is correct. When I enter this into Turbo Tax Win Desktop version, the amount is carried over twice to the 1099R summary. Once for the Box 1 Total Distribution and then again for the amount on the TurboTax 1099R form under Insurance - HSA funding distribution. This causes an incorrect reporting of taxable income on 1040 since the rollover amount is subtracted twice from other 1099R distributions. I am overriding one of the amounts on the summary (which is a TurboTax form) so that my income is not understated. This needs to be fixed so that others will not have incorrect taxes.
‎February 5, 2024
12:48 PM