How do I correct total income for double reported 1099-R?

[ajsluiken]

We did a total distribution rollover (from Ameritas to Fidelity). After doing the rollover, we converted part of that into a ROTH IRA. We received a 1099-R from Ameritas for the total distribution and a 1099-R from Fidelity for the ROTH conversion. When inputting all of this into our TurboTax, it seems to be double counting the ROTH conversion portion as Wages/Income (approximately $20K over). I don't see any way to indicate that $20K of the original 1099-R is reported on another 1099-R and that this is not two separate pots of money.

[FangxiaL]

The total distribution should add the amounts in box 1 of the two 1099-R forms. Only the converted amount should be taxable. 

[ajsluiken]

Thanks for the reply! Yes, it is calculating my taxable income correctly, but on the "wages/income" line of the federal review page, it is adding them both, making our wages/income for the year looking much higher. Perhaps this doesn't matter as long as our taxable income is correct? I guess that is the guidance I am looking for. 

[Opus 17 · Accepted solution]

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@ajsluiken wrote:

Thanks for the reply! Yes, it is calculating my taxable income correctly, but on the "wages/income" line of the federal review page, it is adding them both, making our wages/income for the year looking much higher. Perhaps this doesn't matter as long as our taxable income is correct? I guess that is the guidance I am looking for. 

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If your taxes are calculated correctly, ignore the summary, it's not very accurate.  

For the first rollover, the 1099-R with either have a code indicating it was a non-taxable rollover, or if it has a code that makes it taxable, there is a followup question where you can indicate that it was all rolled over.   

[LackbeardCO]

Something similar happened to me. We downloaded two 1099Rs from Schwab for IRA distributions, for two different accounts. One of them looks like it entered correctly, as an IRA distribution. The other one is added in twice, once as an IRA distribution (correct) and once as part of pensions and annuities (incorrect). How can I fix that? Brute force would be to delete the downloaded 1099 from Schwab and enter the information by hand. Any better fix?

[ajsluiken]

I ended up checking my forms instead of relying on the "step by step" information provided by TurboTax (you can switch views in the upper right hand corner). On the actual forms, my income was accounted correctly. Both 1099s still showed on there, but only the ROTH conversion was counted toward my income.