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Retirement tax questions
I see several "work arounds" involving altering entries on 1099's. Won't that trigger a response from the IRS in that their copy of your 1099-R does not align with what you coded on the TT version of the 1099-R? On my 1099-R box 2a show the full amount is taxable, box 2b is checked off as Taxable amount to be determined, Box 7 show code 7 Normal Distribution with an"X" in the IRA/SEP/Simple. I played around with altering these entries and yes it does the job of presenting the "correct" disposition of the transaction on 1040 line 4b. But we should not have to play games with figuring this out. TT dropped the ball majorly on this one. Perhaps too many H1B "geniuses" in the mix back at coding central. TT needs to come up with an update that handles this cleanly This is FUBAR