Skip to main content
Level 2
Jan 21, 2025 2:20 AM UTC
Solved

1099R Not Populating Correctly

Needing some help here. I entered in my 1099R as $7,007.00, however when checking the "Explain My Taxes" section, it shows it as $3,257.00. I have tried deleting and reentering but it keeps changing it after I enter it in. My MAGI is above the deduction limit to where I am only eligible for a partial deduction. I wouldn't think that would affect the amount reported in 1099R, would it?

    dmertzAnswer
    Level 15
    Jan 21, 2025 12:37 PM UTC

    Expert Reviewed

    If you've made nondeductible contributions to a traditional IRA, distributions from your traditional IRAs are partially nontaxable, calculated on Form 8606.

    2 replies

    dmertzAnswer
    Level 15
    Jan 21, 2025 12:37 PM UTC

    Expert Reviewed

    If you've made nondeductible contributions to a traditional IRA, distributions from your traditional IRAs are partially nontaxable, calculated on Form 8606.

    Level 2
    Jan 21, 2025 2:48 PM UTC

    Thanks dmetz! That makes sense.