turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If TurboTax gives me two conflicting answers regarding taxable amount to be reported for a 1099-R annuity payment, what should I do?

A 1099-R shows insurance company annuity of $2000. I entered $1600 as taxable (I previously recovered all but $400.) TurboTax next advised, using simplified method, taxable amount is $0.00. I left it at $1600 – but then the program said it should be $2000 (taxable amount on 1099-R). Can I get an answer from TurboTax?


Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
pk
Level 15
Level 15

If TurboTax gives me two conflicting answers regarding taxable amount to be reported for a 1099-R annuity payment, what should I do?

what does the 1099-R show as taxable income or does it  have a check mark in the box "Taxable amount not determined" ?

if it not determined then you have to allow TurboTax to determine the taxable amount.  Where is the $1600 coming from ? what $400 ?

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies