Taxable amount rolled over for 1099-R not calculated correctly by Turbo tax 2024 (posted in Retirement forum)

[JoAnnNB]

Hi,

I have received 1099-R for 2024 for rolling over $53750 from an after-tax 401k account to a Roth IRA. I contributed $53430, so the gain of $320 is taxable.

In 1099-R,

Box 1: $53750

Box 2a $320

Box 5 $53430

Box 7 G

In step by step Tax entry, I selected Yes to the question "Was this Money Rolled Over to a Roth IRA?"  and Yes to the question " Did you make after-tax contribution to this 401(k) or 403(b) plan" and entered "$53430" as the amount I contributed.  I found in 1099-R Additional Distribution Information, B1 (Check if the entire distribution rolled over) is checked, so my entry in Step-by-Step was retained correctly, but somehow the info was not reflected in Line 26a of 1099-R Summary

However, in 1099R Summary form,
line 26 (Taxable amount in box 2a, Form 1099-R) shows 320, which is correct
line 26a (Taxable amount rolled over) incorrectly shows 0 instead of 320
line 31 (Taxable amount of Roth IRA conversions) shows 320
line 321 (Taxable amount of distributions) shows 640 instead of 320

In 2023, I have a similar situation and the line 26a was calculated correctly.  All my entries in 2024 were done the same way as 2023 for 1099-R and 1099-R Additional Distribution Information, but the 1099-R Summary for 2024 calculated 26a differently than 2023.

This appears to be a Turbo Tax bug. I spoke to Turbo Tax phone support and the person reviewed my entry through screen-share and he agreed with my assessment. In order to correct this software error, I have to override 26a on 1099-R Summary from blank to the amount that was rolled over. As a result, I don't seem to be able to e-file.

Is there a way I can correct this error and still be able to e-file?  

Your answer would be greatly appreciated.

JoAnn

[JoAnnNB]

I posted this issue originally in the wrong discussion forum (https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-taxable-amount-rolled-over-fo...). 

However, I got replies recently and it has been root caused.

[VolvoGirl]

What is root caused?   You mean resolved?   

[SteamTrain]

@VolvoGirl 

The user provided a link to the solution.

Root cause, was a 10 cent entry error. 

The OP's rounding of the $$ amounts in the above question was not detailed enough

.....BUT, it was also true that the TTX software didn't flag the 10cent error...which resulted in the entire $320 not showing up on one of the correct lines of the 1099-R Summary worksheet, where it apparently needed to show up..

[VolvoGirl]

Oh I saw that and got it.  Just didn’t understand the words.  Thought it might have been a typo or spell check for “resolved”.   I sometimes wonder if posters are speaking into their posts?