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sandyshin
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

 
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1 Best answer

Accepted Solutions
MaryEllen
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

Sandyshin, I think you will need to file an extension, and get in touch with customer support tomorrow. If you have deleted and reentered the 1099 and are getting the same result, something else is going on we can't see from here. 

View solution in original post

23 Replies
MaryEllen
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

When you entered the 1099R in the program, you should have entered 10,000 as the amount received and as the taxable amount, unless it was not all taxable. If you didn't make the taxable amount entry, then TT would think it is not taxable.
sandyshin
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

The taxable amount is filed in. The problem is that the line for the IRA withdrawal is left blank on the tax return, The taxable amount does reflect the correct amount
MaryEllen
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

Line 4a and 4b are blank on your 1040. Can you delete the 1099R and re-enter it?
sandyshin
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

I deleted the 1099R and re-entered te data, and te amount on 4a and 4b are still blank
MaryEllen
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

What is the code in box 7?

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

And what is in box 2a?
Is the IRA/SEP/SIMPLE box checked?
**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.**
sandyshin
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

$10,000.00

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

Delete the 1099-R and re-enter.   

Be sure you are entering in the correct place.

The taxable amount should be in then 1040 line 4b.

Enter a 1099-R  here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu  (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type:  Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE:  When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases.  You can always return as shown above.]
**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.**
sandyshin
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

I do not know ow to contact customer support
MaryEllen
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

Here is how to get the contact number - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/search?utf8=%E2%9C%93&q=contact+customer+service+number">https://ttlc.intuit...>
MaryEllen
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

Sandyshin, I think you will need to file an extension, and get in touch with customer support tomorrow. If you have deleted and reentered the 1099 and are getting the same result, something else is going on we can't see from here. 

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

I filed for an extension when I saw th error. Thanks for the help
MaryEllen
New Member

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

Here is how to get the contact number - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/search?utf8=%E2%9C%93&q=contact+customer+service+number">https://ttlc.intuit...>

Why is my $10,000 IRA withdrawal not showing in Income, but my SSN benefits are sown, The $10000 is in the taxable income?

@sandyshin - The IRA interview has not changed for years and works fine.

If your 1099-R is for a Traditional IRA and:
Box 1 is $10,000,
Box 2a is $10,000,
Box 2b (not determined) is checked,
The IRA/SEP/SIMPLE box is checked,

Then when  entered as above, the box 2a amount will be on the 1040 line 4b as taxable income.

**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.**
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