DaveF1006
Expert Alumni

Retirement tax questions

It depends. You can verify this easily.  Once the summary loads, look at the left-hand sidebar again and click Preview my 1040. Scroll down to Line 25:

 

  • Line 25a: Should be $0 (This is for actual W-2 withholding).
  • Line 25b: Should show your 1099 withholding (This is for 1099-R, SSA-1099, etc.).

If both boxes are correct after verification, it is reported correctly in TurboTax despite the summary. While it's usually just a labeling issue, you should verify one thing:

 

Check your "Wages & Income" summary: Ensure you didn't accidentally enter a 1099-R into the W-2 section. If you see an "Employer" listed in your income summary that is actually your financial institution (like Vanguard or Fidelity), you should delete that entry and re-add it under Retirement Plans and Social Security (1099-R).

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