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Form 1040 line 4b taxable IRA distribution appears to be grossly incorrect
Total IRA distributions line 4a is $37103, comprised of 4 different distributions, and is correct. Taxable amount on 4b shows $4811. The taxable amount should only a few hundred dollars less than the total amount.
I went through the 1099R's for the 4 and see nothing wrong. All are normal distribution code 7 with IRA box checked. Though there should be no connection, the total tax withheld for the 4 1099R's is $4809 (kind of close to the $4811).
I don't see any way to determine how TT came up with $4811. Clicking on the number in the 1040 form and using the magnifying glass just shows me all of my 1099R's.
March 2, 2022
7:41 AM