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Taxable amount on form 1099-R and Impact to Tax Due
I keep getting the error message when trying to submit Fed e-filing:
"Taxable amount should not be zero if there is no prior year excess traditional IRA contribution on line 4 of the IRA information sheet. "
Where to find IRA information sheet and enter the amount in the sheet? IRA information sheet is not the same as 1099-R, right? Is it generated by Turbo Tax in the back-end? The taxable amount should be zero.
Another weird thing is that if I just put $1 instead of $0 in the taxable income, my tax due increased by a few thousand dollars. Is it supposed to be like that?
Thanks in advance!
Topics:
May 29, 2020
7:16 PM