My wife received 2 1099-R forms for a total distribution from an employer pension plan. Part of this distribution was rolled over to a qualified IRA and part was used/cashed out. While entering both 1099-R's it looks like we received more money that was distributed. While part of the total distribution was rolled over and part cashed out, it is combining both amounts from the 1099-R's. Should this be the case?
For instance, as an example actual should be:
Total distribution - $150,000
Amount cashed out - $50,000
Rolled over - $100,000
Total Retirement Income - $150,000
Turbo Tax is reporting the following:
Total distribution $150,000
Amount cashed out $50,000
Rolled over - $150,000
Total Retirement Income - $200,000
