On Retirement Income Results page: My total IRA distributions were $3,640. It says my Taxable distributions were $4,918. How can the taxable distributions be higher??

mkfoge · ‎March 19, 2020

macuser_22 · ‎March 19, 2020

Taxable distributions will be on the 1040 form line 4b.

It will show as income on the summary screen which shows gross income, not taxable income.

The IRS requires reporting all income on a *income* tax return - taxable and not-taxable.

**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.**

dmertz · ‎March 19, 2020

Did you have $1,278 (26%) of taxes withheld on a gross distribution of $4,918, resulting in cash to you of $3,640? If the Form 1099-R has $4,918 in boxes 1 and 2a, the total distribution was $4,918, not $3,640, and the entire $4,918 is taxable.

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On Retirement Income Results page: My total IRA distributions were $3,640. It says my Taxable distributions were $4,918. How can the taxable distributions be higher??