topic 1040 Line 1 is shown as greater than taxable income on w-2 in Retirement tax questions

1040 Line 1 is shown as greater than taxable income on w-2

eyuzak — Fri, 03 Jul 2020 18:57:53 GMT

Re: 1040 Line 1 is shown as greater than taxable income on w-2

VolvoGirl — Fri, 03 Jul 2020 19:03:04 GMT

Are there any letters by 1040 line 1? Like SCH or DCB or HSH?

Did you get any 1098 forms? SCH by 1040 line 1 Wages is taxable scholarship income and then the amount.
See FAQ https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable

and how Turbo Tax calculates
https://ttlc.intuit.com/questions/1901084-how-does-turbotax-calculate-line-7-form-1040-1040a-and-line-1-1040ez-wages

Taxable scholarship is any grant or scholarship amount that exceeds qualified educational expenses (tuition, fees and for undergrads, course materials[books]). Loans are not scholarships and are never taxable

OR
HSH is for Household Help
DCB means Dependent Care Benefit

Or do you have any 1099R forms with code 3 in box 7?

Re: 1040 Line 1 is shown as greater than taxable income on w-2

eyuzak — Sun, 05 Jul 2020 16:19:27 GMT

Thanks for your reply.

I found out that the problem was that I entered the wrong code in Box 7 of an 1099-R form. With this correction Form 1040 line 1 is now exactly equal to the sum of W-2s. This was difficult to troubleshoot because TurboTax's supporting form link took me to the list of W-2s. 1099 that was included in this sum was not listed at all.

Re: 1040 Line 1 is shown as greater than taxable income on w-2

VolvoGirl — Sun, 05 Jul 2020 16:23:24 GMT

Yes 1099R was my last sentence. What code is in your 1099R? Did you enter it wrong? Don't change it if it is right and a 3. And actually showing up on the W2 line is better. You can get EIC credit for it.