1099-R, Box 7, Code 8

Forum|Forum|5 years ago
March 1, 2021
1 reply
2 views

I received a return of contribution from my employer 401k plan and box 1 and 2a of my 1099-R reflect this amount of gross distribution (return of contributions plus earnings). Box 7 reflects code 8. When entered to my tax return in Turbo Tax, it reflects it as non-taxable, and I cannot see how/why? Anyone having issues with this or know something I don't?

macuser_22

Alumni - Champ

Where are you looking? The box 2a amount should add to your taxable wages on line 1 on the 1040 form.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Kara372Author

Level 2

I agree. That is why I'm perplexed. It's entered as taxable, but TurboTax does not include it as taxable. Guessing I'll need to call support. When I get to the forms, it will not show as taxable - seems pretty straightforward/simple that it should be carried to page 1 as a taxable distribution. Just making sure I'm not missing something.

macuser_22

Alumni - Champ

It is not a distribution. It is a return of contribution. It will not be on line 5 on the 1040 it will be on line 1.

Delete the 1099-R and then look at the 1040 form line1, then re-enter the 1099-R. Does the 1040 line 1 increase by the 1099-R box 2a amount?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**