IRA distributions not being picked up on return

Forum|Forum|2 years ago
April 7, 2024
1 reply
0 views

I imported four 1099Rs from TRowe Price. All have the IRA box checked and all the follow-up questions were answered. These are not added to the return, causing my income to be underreported. I also have two other IRAs with the interview sheets filled out the same as the TRowe Price ones which have carried to the return.

How do I get these IRA distributions onto my return. Thank you.

DanaB27

Level 15

To clarify, these were regular distributions and they do not show up on line 4 of Form 1040? What codes are in box 7?

You can try to delete them and enter them manually to see if this solves the issue:

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
On the "Let's import your tax info" screen click "Change how I enter my form"
On the "How do you want to enter your 1099‑R?" screen click "Type it in myself"

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

40beachAuthor

Level 2

First of all, thank you to DanaB27 for the reply.

In answer to your questions, yes these are regular distributions, box 7 shown, and the box for IRA distributions is checked. (The information was imported from T Rowe Price.) They do appear on the Distributions from Pensions, IRAs, etc "Worksheet" produced as a form along with all my other 1099R distributions which are included on line 4 of the 1040.

I followed your suggestion to delete and manually reenter the four 1099Rs from T Rowe Price. IT DID NOT SOLVE THE PROBLEM. Therefore, the return underreports income which the IRS is aware of despite the Smart Check message that the "we've reviewed the federal return and found no errors." Now I can file an extension while I wait for Turbo Tax to solve this very frustrating issue. Please advise. Thank you.

SusanY1

Level 15

The token # on the diagnostic copy I just provided is 1234576.

@DanaB27

Please confirm receipt of copy. Thank you.

After looking at the files it appears that the IRA/SEP/SIMPLE box is not checked in the software for the two largest distributions. (Since the data file is stripped of personal information, I can't see for sure that those indicate they are from T. Rowe Price, but it is just the two largest distributions.)

Please return to the IRA section and edit those two adding a checkmark in the IRA/SEP/SIMPLE box that is below the Box 7 code (which is also code 7).

When I add those checkboxes in the diagnostic copy, the income moves to line 4a.

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