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1099-Q why TurboTax is adding the Box 2 (Earnings) to Box1 (Gross Distribution) as income
On my daughter's 1099-Q, Box1 has an amount of $9786.00, Box 2 has an amount of 3180.96, and Box 3 has an amount of 6605.04.
If I entered the 1099-Q as stated, TurboxTax shows her total income as below
But if I edit the 1099-Q, and change the Box2 amount to 0 (leaving everything else unchanged), her income become below (Other income becomes 0):
I don't understand why the Box 2 amount increases her income by $3,016. My understanding is that Box 2 + Box3 = Box 1. So, Box 2 is already part of Box 1. Why would Turbo Tax, add it to Box 1?
‎April 9, 2023
2:12 PM