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jmorgavan
New Member

Why is my taxable income inflated by the amount in my 1099-R Box 5?

My Deluxe download version displays inflated taxable amount. Online version displays correct taxable income amount. Why the difference?
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2 Replies

Why is my taxable income inflated by the amount in my 1099-R Box 5?

Edit the 1099-R and go thru all the follow-up questions again.

There may have been some answer to a follow-up question that needs to be re-set.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
dmertz
Level 15

Why is my taxable income inflated by the amount in my 1099-R Box 5?

Are you sure that the amount on line 5b of Form 1040 is different between the two?  If not, both versions of TurboTax are behaving the same.

 

Note that the amount in box 5 is income, it's just nontaxable income that is required to be included on line 5a of Form 1040 but excluded from line 5b.

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