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Turbo Tax online shows "Retirement income results" distributions. "Traditional and Roth" row and "Pension and annuity" row. Numbers are flipped. Software glitch?

All 1099-R entries verified. Why is the Annuity number in the Traditional IRA row and the the 401k number in the Pension and annuity row? Will that cause a reporting problem?
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3 Replies
JohnB5677
Expert Alumni

Turbo Tax online shows "Retirement income results" distributions. "Traditional and Roth" row and "Pension and annuity" row. Numbers are flipped. Software glitch?

Yes, that could be a problem.  I suggest you confirm what is posted to your tax return lines 4a and 5a.

 

From the left sidebar

  1. Select Tax tools
  2. Hint: You may have to minimize the Federal and State selections
  3. Click Tools
  4. A Menu will pop up
  5. Select View tax summary
  6. On the left panel click Preview my 1040
  7. 4a - IRA distributions
  8. 5a - Pensions and Annuities

You've stated that you double checked the posting of the 1099-Rs.

If 4a and 5a are incorrect, please check it again.

 

I've not seen this issue before.  If it does please contact me at @JohnB5677  

 

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Turbo Tax online shows "Retirement income results" distributions. "Traditional and Roth" row and "Pension and annuity" row. Numbers are flipped. Software glitch?

Thank you. I checked again and did notice that the 1099R with the IRA / SEP / SIMPLE box checked is and that taxable amount is on line 4b. The other two 1099R's (one 401k distribution and one Roth 401k distribution) do NOT have the IRA /SEP / SIMPLE box checked and the total of those two amounts are on line 5a (gross) and 5b (taxable). I'm thinking that check box determines which line 4 or 5 they end up on?

dmertz
Level 15

Turbo Tax online shows "Retirement income results" distributions. "Traditional and Roth" row and "Pension and annuity" row. Numbers are flipped. Software glitch?

Correct.  If you marked that box on TurboTax's 1099-R form in agreement with the marking on the Forms 1099-R provided by the payers, the amounts are being reported on the correct lines.  Apparently your annuity is an IRA annuity required to be reported on lines 4a/4b.  The 401(k) distributions are considered to be pension distributions (not IRA distributions), so they go on lines 5a/5b.

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