My Fidelity 1099R listed each FUND distribution separately.. Do I put in 1 total amount or each fund distribution list them individually ?

[fanfare]

how many 1099-Rs did you get? your post says one.

[Critter]

American funds has the ludicrous habit of taking out a bit from each investment in the portfolio in the IRA and then sending a separate 1099 for each investment instead of one for the entire annual IRA distribution which is a terrible waste of paper.

If that is what your broker did then combining them is fine.

[Critter · Accepted solution]

If they send you multiple form 1099-Rs for the same account (one for each fund in the IRA) then you can combine them in the program and enter them as one entry for the IRA instead of a bunch of individual entries and this is needed sometimes because the IRS has a 20 form limit in this section.  The IRS does get all the 1099-R forms from the payer BUT  only expects the grand total on your return ... entering in the individual forms in the program is for your use only. Make sure that all the forms you combine have the same code in box 7. 

[DanO]

You will want to enter each 1099-R individually.  The IRS will also be receiving the 1099-Rs and will be expecting to see all of them on your return as is.

[bnldretske]

For 2020 and 2021 American Funds sent me a single 1099-R but showed separate rows for the multiple funds I received distributions from. My confusion when completing taxes is that each fund has a different fund number but turbo tax only has one spot for one fund on each 1099-R template. I'm not sure if I should keep adding additional 1099-Rs for each fund or just add up all the boxes and just pick one of the fund numbers to enter.

[VolvoGirl]

Is this from one IRA or 401k account?  Isn't there a total on the 1099R?  You just enter the total not the individual funds.  There shouldn't even be a spot to enter the fund number.

[bnldretske]

No, there is no total, just (in my case) four line items, one for each of the funds I received distributions from my single IRA account. I can easily add up all the pertinent values to put them into a single 1099-R in TurboTax but my only hang-up is that pesky box in TurboTax that seems to need a fund/account number. I suppose I could just enter the single account number I have for all four funds and just not include the individual fund numbers.

[boxboxbetty]

If it helps any, I am running into an identical issue (one 1099-R form with 4 different set of boxes for each "payer"). I tried to enter them individually but by the time I got to the "Federal Review" step, I had to combine them all because of the identical "Payer's TIN" number (otherwise I would be stuck in the 'please review' loop). 

[jwolfe701]

I reported my 1099 R income last year as 6 separate entries for mutual funds. All of these were from Capital Bank and Trust.  2 of the entries had identical distribution amounts. My Fed tax filing was rejected by the IRS because it stated I had entered duplicate distribution amounts even though they were from separate mutual funds.  This year I have the same problem with 3 different mutual funds with the same distribution amounts. I call Turbo tax help and was told to add up all of the amounts from the 6 mutual funds,  income tax withheld and state tax withheld and enter as a single entry under Capital Bank and Trust. The Payer TIN# is the same for all of the funds. Has anyone else done this and did it work?

[VolvoGirl]

Do you get one 1099R or did you get 6?  Only enter the 1099R.  You don't need to enter all the funds.  Don't know how you even entered them.  You don't report transactions, dividends, interest, buys & sells in IRA, 401K or retirement accounts.  

[Critter-3]

You CAN combine all those separate IRA distributions from the same fund  and enter them as ONE instead of several separate entries.  

[fanfare]

If your mutual funds are at a mutual fund company, IRS wants each fund dividend distribution to be itemized.

if your mutual funds are in a brokerage account, you can report all dividends into that account on one line.

Vanguard for example has been converting client accounts to brokerage accounts.

For an IRA, your 1099-Rs with the same distribution code and Payer's TIN can be aggregated.