1099-R Refund not added to 1040 line 4d

Forum|Forum|5 years ago
March 16, 2021
4 replies
36 views

I received 1099-R for my wife's 401K plan. This refund is due to IRS Highly Compensated Employee rule, not something she initiated. 1099-R has same numbers in box 1 and box 2a (taxable amount), Box 7 Code 8.

Turbotax 1099-R summary (desktop version) calculates the "Taxable amount transferred to Form 1040, line 4d" as 0. I am not sure if this is correct. The letter from the company clearly says the refund is taxable.

Any help appreciated. Thank you

Best answer by dmertz

This income is likely present on the 1099-R Summary line 28 instead of line 32d and is being included as taxable wages on Form 1040 line 1 instead of on line 5b. (The reference to line 4d should actually be to line 5b. The line number changed from 4d to 5b between 2019 and 2020.)

dmertzAnswer

Level 15

tksprabuAuthor

Level 3

Do you mean it is already included in W2? Because the number on 1040 line 1 is same as W2.

dmertz

Level 15

It should be included on line 1 of Form 1040 in addition to the amount reported in box 1 of your W-2. Check to see if this distribution appears anywhere on the 1099-R Summary.