Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
pokathy0922
New Member

On box 1 should i enter gross income or taxable income

 
2 Replies
LinaJ2020
Expert Alumni

On box 1 should i enter gross income or taxable income

If you are referring to a Form 1099-R, you should report the gross distribution amount in box 1.  Box 2 is where the taxable amount goes. 

 

Once the program calculates your taxable amount, it will show on either line 4b or 5b on your Form 1040 depending if it's an IRA or pension.  If it is not taxable, it will shows on line 4a and 5a for reporting purposes. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
dmertz
Level 15

On box 1 should i enter gross income or taxable income

Enter the details of the Form 1099-R exactly as they are shown on the form provided by the payer.

Dynamic AdsDynamic Ads
Privacy Settings
v