Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 11:58:47 AM

Do I enter the gross distribution or the taxable amount for income

0 5 4270
1 Best answer
Level 3
Jun 4, 2019 11:58:49 AM

Enter EXACTLY what it says on the 1099-R in the exact boxes.

Box 1 of your 1099-R is the gross distribution; box 2 is the taxable amount.

Turbo Tax figures tax based on the taxable amount.

5 Replies
Level 3
Jun 4, 2019 11:58:49 AM

Enter EXACTLY what it says on the 1099-R in the exact boxes.

Box 1 of your 1099-R is the gross distribution; box 2 is the taxable amount.

Turbo Tax figures tax based on the taxable amount.

New Member
Jul 15, 2020 9:23:19 AM

I am trying to file a 1099-R, and there seems to be a major discrepancy between what the form says and what Turbo Tax is allowing.

 

The Gross Distribution in Box 1 is for approximately $120K, but Box 2A shows the Taxable Amount as being only $20K. There is no Box 2A on Turbo Tax's 1099-R form, so how do I enter this?

 

Withdrawals were already made based on the $20K amount, but they are way under the $22K that your system is saying that I owe.

 

PS: Just to be clear, Turbo Tax Box 2 is Early withdrawal penalty.

New Member
Apr 10, 2021 7:23:19 PM

Turbo tax doesn’t have box 1

New Member
Apr 10, 2021 7:24:55 PM

There is no box one to put thegross

 

distribution 

Expert Alumni
Apr 11, 2021 7:57:32 AM

Please confirm you have triggered the Financial institution or other provider (1099-R). After inputting the address, etc, there will be a screen that includes Box 1. 

 

See the screenshots below: