BillM223
Expert Alumni

Retirement tax questions

"I removed the OPM amount from Federal" - did you set the box 1 amount on the 1099-R to zero in the 1099-R interview in the Federal interview?

 

You do not want to do that to "fix" the problem because you will almost certainly get a letter from the IRS, who already have a copy of the unedited 1099-R.

 

No, I asked about the Taxable 5% Income because this is a single line item on the state tax summary that you can actually see. What is this value before and after you zero out the Box 1 entry in the 1099-R? I want to see how much of the OPM distribution was exempted from tax.

 

To see the state tax summary, go to a screen in the state interview (doesn't matter which one), look to the left for Tax Tools, click on it then click on Tools, then in the center, click on View Tax Summary. The state tax summary will appear in the center of the screen.

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