I entered a 2024 Form 1099-R for a $20,000 distribution from my IRA. The 1099 shows a gross distribution of $20,000 and a taxable amount of the distribution of $20,000. The gross distribution shows up on line 4a of Form 1040, but the taxable amount on line 4b of Form 1040 shows a taxable amount of $0.00. Line 4b should show a taxable amount of $20,000. How can I get this corrected?
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Please review carefully the entry of form 1099-R. In the follow-up interview, in TurboTax, make sure that that you say that you did something else with the money, that you DID NOT rollover the money. This would make the distribution taxable.
Thanks for your suggestion, but I have checked those following-up interview questions several times and have ensured that this is not a rollover. Form 1040 still shows that nothing is taxable.
To clarify, was this distribution from a Traditional IRA? What is the code in box 7?
If it was from a Traditional IRA, did you make nondeductible contributions? If yes, then the taxable amount is calculated on Form 8606.
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