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sandyddd
New Member

The taxable amount coming from my 1099-Ret is incorrect. Box 1 is for my Gross Distribution while Box 2 is for my Taxable Income. In the end I am being taxed on Box 1

I have tried competitors software and I get the result I expected.  This error came to light because my distributions and expenses haven't materially changed from 2018, yet my taxes went from a refund to a substantial payment.  When I change the Gross Distribution in Box 1 to the taxable amount (Box 2a), it results in  the proper taxes due.  Am I missing something here, or has anyone else had this issue?  I have used TurboTax for several years but I can't use it with this mistake.
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4 Replies
dmertz
Level 15

The taxable amount coming from my 1099-Ret is incorrect. Box 1 is for my Gross Distribution while Box 2 is for my Taxable Income. In the end I am being taxed on Box 1

  1. What is the code (or codes) in box 7 of the Form 1099-R provided by the payer?
  2. Is the IRA/SEP/SIMPLE box marked on this Form 1099-R and have you reflected that correctly on TurboTax's 1099-R form?
  3. Are you entering the box 1 and box 2a amounts exactly as shown on the Form 1099-R provided by the payer?
  4. Is box 2b Taxable amount not determined marked?
  5. Is there any nonzero amount in box 5?

 

The taxable amount coming from my 1099-Ret is incorrect. Box 1 is for my Gross Distribution while Box 2 is for my Taxable Income. In the end I am being taxed on Box 1

Sorry to hi-jack this post, but I have the exact same issue. In response to your questions:

Box 7 = 7D

IRA/SEP/Simple = Blank

I have input the correct amounts from 1099-R into Turbo Tax

Box 2b is blank

Box 5 does have a dollar amount in it. It is the difference between box 1 and box 2a

 

Thanks

dmertz
Level 15

The taxable amount coming from my 1099-Ret is incorrect. Box 1 is for my Gross Distribution while Box 2 is for my Taxable Income. In the end I am being taxed on Box 1

mdames, please ask your question separately.  Hijacking someone else's question when their problem has not yet been resolved serves only to disrupt and confuse the process of addressing the original question.

The taxable amount coming from my 1099-Ret is incorrect. Box 1 is for my Gross Distribution while Box 2 is for my Taxable Income. In the end I am being taxed on Box 1

You are right. I apologize

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