topic Re: Possible bug in TT2021 in State tax filing

Possible bug in TT2021

streetwolf — Wed, 26 Jan 2022 23:55:10 GMT

I entered my wife's IRA 401k rollover to a traditional IRA per the 1099-R she received. On the Federal side it is displayed under her name and all seems OK. The 'bug' appears when doing my state taxes (NJ). When I get to the point where TT asks me about IRA's it brings up a screen with my name on it and the amount of the rollover which is the exact amount that my wife reported. When I continue further I get the same screen with my wife's name on it. Since I had no rollovers in 2021 shouldn't I have not gotten the same screen as my wife? Does this sound normal to you?

Re: Possible bug in TT2021

Mike9241 — Thu, 27 Jan 2022 00:51:50 GMT

doesn't matter since on the actual NJ return this is no separate reporting for H vs W rollover. if the amount appears on line 20b everything is fine. if on 20a, there's a bug.

Re: Possible bug in TT2021

streetwolf — Thu, 27 Jan 2022 01:11:29 GMT

Line 20a shows $9,290 which consists of a small pension of mine as well as a distribution from money I added to my Traditional IRA by mistake. The mistake generated a 1099-R showing that $46.00 is taxable but not the original amount, $7,000. Line 20b has no amount. On line 28a there is a NJ pension exclusion of $9,290.

I can't even find the $105,000 on any of the NJ tax forms. BTW To the question whether it was rolled over to a SIMPLE IRA I said No.

Does this seem right?

Re: Possible bug in TT2021

fanfare — Thu, 27 Jan 2022 03:53:02 GMT

20b is for NJ basis recovery not rollovers.

So your NJ return is correct, assuming you have wages or earned income also.

A Rollover won't appear on your NJ tax return.

Re: Possible bug in TT2021

fanfare — Thu, 27 Jan 2022 04:01:21 GMT

@streetwolf

verify your federal Form 1040 does not show 2x the Rollover amount.

TurboTax has been known to double certain line items in the previous years.

Re: Possible bug in TT2021

streetwolf — Thu, 27 Jan 2022 11:28:07 GMT

Thanks to all who replied. It looks like I'm good to go. The rollover doesn't appear on my tax forms and in my case NJ doesn't tax Retirement money if you make below a certain amount.

Re: Possible bug in TT2021

fanfare — Thu, 27 Jan 2022 12:40:37 GMT

you return is correct if you had wages or earned income over $3,000.