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hartboom
New Member

Taxable amount of an IRA distribution

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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3 Replies
MinhT1
Expert Alumni

Taxable amount of an IRA distribution

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.

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hartboom
New Member

Taxable amount of an IRA distribution

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.

DanaB27
Expert Alumni

Taxable amount of an IRA distribution

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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