Turbo Tax calculated the incorrect taxable amount on the 1040 line from an OPM (federal) 1099-R entry, which is different from the 1099-R. Info entered correctly. Why?

I entered the gross distribution and the amount in box 2a. shown as the taxable amount, along with the total employee contribution in box 9b. TT calculated the taxable amount $95 lower than shown on the 1099-R for some reason - totally ignoring what I entered as the taxable amount.

475

Expert Alumni

Jan 27, 2021 2:57:40 PM

Since you had employee contributions, these are prorated and deducted from your taxable amount each year.

Level 15

Jan 27, 2021 3:56:30 PM

This sounds like you inappropriately told TurboTax to use the Simplified Method to calculate a different taxable amount. Delete and reenter the Form 1099-R and indicate that the box 2a amount is the correct taxable amount.

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Turbo Tax calculated the incorrect taxable amount on the 1040 line from an OPM (federal) 1099-R entry, which is different from the 1099-R. Info entered correctly. Why?