topic Re: 1099R Not Populating Correctly in Retirement tax questions

1099R Not Populating Correctly

RodrigoEstrada — Tue, 21 Jan 2025 02:20:26 GMT

Needing some help here. I entered in my 1099R as $7,007.00, however when checking the "Explain My Taxes" section, it shows it as $3,257.00. I have tried deleting and reentering but it keeps changing it after I enter it in. My MAGI is above the deduction limit to where I am only eligible for a partial deduction. I wouldn't think that would affect the amount reported in 1099R, would it?

Re: 1099R Not Populating Correctly

dmertz — Tue, 21 Jan 2025 12:37:25 GMT

If you've made nondeductible contributions to a traditional IRA, distributions from your traditional IRAs are partially nontaxable, calculated on Form 8606.

Re: 1099R Not Populating Correctly

RodrigoEstrada — Tue, 21 Jan 2025 14:48:41 GMT

Thanks dmetz! That makes sense.