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debrakzirbes
New Member

Why am I being taxed for my retirement money that went into an IRA account when the taxable amount in box 2A is zero?

 
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Accepted Solutions
macuser_22
Level 15

Why am I being taxed for my retirement money that went into an IRA account when the taxable amount in box 2A is zero?

It will show as income on the summary screen which shows gross income, not taxable income.

The income will be reported on line 15a or 16a on the 1040 form (depending on the type of account) with the word “ROLLOVER” next to it if it was a rollover.

The taxable amount will go on line 15b or 16b.  In the case of a rollover, that amount will be zero.

lines 11a/b and 12a/b if 1040A form
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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1 Reply
macuser_22
Level 15

Why am I being taxed for my retirement money that went into an IRA account when the taxable amount in box 2A is zero?

It will show as income on the summary screen which shows gross income, not taxable income.

The income will be reported on line 15a or 16a on the 1040 form (depending on the type of account) with the word “ROLLOVER” next to it if it was a rollover.

The taxable amount will go on line 15b or 16b.  In the case of a rollover, that amount will be zero.

lines 11a/b and 12a/b if 1040A form
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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