If you received two Form 1099-R, each with $38,657 in box 1, perhaps, as rjs suggests, one was for a rollover, $77,314 Total IRA Distributions on Form 1040 line 4a and $38,657 taxable on line 4b would be entirely reasonable. An amount rolled over from the originating IRA is still a reportable distribution from the originating IRA even though it does not add to taxable income.
