topic 1099R entries & missing deductions in Get your taxes done using TurboTax

1099R entries & missing deductions

abrahammpaytonjr — Fri, 29 Jan 2021 00:06:41 GMT

When will I be able to list my 1099R's? Why don't all of my deductions show up after I input them on TurboTax?

Re: 1099R entries & missing deductions

VolvoGirl — Fri, 29 Jan 2021 00:08:15 GMT

You can enter 1099R. Are you having a problem?

The easiest way to get to the 1099-R entry screen is to simply search for 1099-R (upper- or lower-case, with or without the dash) in your TurboTax program and then click the "Jump to" link in the search results.

Enter a 1099R under

Federal Taxes on the left side

Wages & Income at the top

Then scroll way down to Retirement Plans and Social Security,

Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

If you are filing a Joint return be sure to pick which person it is for.

Re: 1099R entries & missing deductions

VolvoGirl — Fri, 29 Jan 2021 00:11:01 GMT

Do you think you will have enough to itemize? The Standard Deduction has increased so many people will be switching to the Standard Deduction. And there is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT". SALT is State And Local Tax. Which includes property tax, any state tax paid like for last year’s return and includes any state withholding from your W2s and any 1099s you have. And any taxes in W2 box 14 and 19 like SDI or VDI. You can only deduct up to 10,000 (5,000 MFS) for SALT State and Local Taxes.

If it's giving you the Standard Deduction and not showing you Schedule A you can check the actual amount of itemized deductions by using by going to

Tax Tools on left

Tools - Topic Search (top left box)

Type in itemized deductions, choosing. It should highlight that in the list, click on GO

Then Click on "Change my deduction". That will display the actual amount of itemized deductions vs. the standard deduction. (Be sure to uncheck "Change my deduction" after checking it so you do not lock in the wrong deduction.

Re: 1099R entries & missing deductions

VolvoGirl — Fri, 29 Jan 2021 00:27:30 GMT

Are you using the Desktop program? 1099R has been ready for a long time. You may need to update your program. Go up to Online-Check for Updates or for Mac reboot your computer.

Otherwise Contact Customer Service
5am-5pm Pacific Time Monday -Friday
https://support.turbotax.intuit.com/contact/

What is the Turbo Tax phone number
https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

Re: 1099R entries & missing deductions

abrahammpaytonjr — Fri, 29 Jan 2021 00:41:40 GMT

I downloaded the program less than 3 hours ago and it showed that it was up to date.

Re: 1099R entries & missing deductions

abrahammpaytonjr — Fri, 29 Jan 2021 00:42:45 GMT

I am using a desktop program. Windows 10 pro. Downloaded program this afternoon.

Re: 1099R entries & missing deductions

abrahammpaytonjr — Fri, 29 Jan 2021 04:14:07 GMT

Thank you for your recommendations. I took your advice and "Updated." Lo and behold there were additional updates besides the ones I did initially. Like you said, it resolved the issue with the 1099R's. So again, Thank You!

Re: 1099R entries & missing deductions

VolvoGirl — Fri, 29 Jan 2021 04:17:11 GMT

Yes there will be many updates. They usually update the program on Thursdays. So if your program is not set to automatically update then be sure to manually check for updates.