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clm10
Returning Member

Problem with 1099-R data

After entering Life Insurance 1099-R data, the entire amount from box 2a shows up as income even though the amount listed in box 5 should reduce this?  What am I doing wrong??

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2 Replies
DianeC958
Expert Alumni

Problem with 1099-R data

If the amount in Box 2 is the same as the amount in Box 1 then the full amount is taxable even though you made contributions that were after tax.  Those after tax contributions have already been distributed.

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dmertz
Level 15

Problem with 1099-R data

The payer will have already reduced the amount in box 2a by the amount in box 5.  Expect to see that box 2a plus box 5 equals box 1.

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