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Retirement tax questions
Using the General Rule in TurboTax simply puts in box 2a whatever amount you enter for the taxable amount under the General Rule. In this case, with box 2b Taxable amount not determined being unmarked, the payer mistakenly left box 2a blank when they meant to indicate that $0 was taxable. (Unfortunately there are payers that think that a blank box 2a means $0 when, in fact, box 2a should always have a numeric value when box 2b Taxable amount not determined is unmarked.)
Being nontaxable income, the amount from box 1 will be included on Form 1040 line 5a but will be excluded from line 5b.
March 6, 2023
1:54 PM