topic Re: 1099-R in Retirement tax questions

1099-R

mlryck1 — Sat, 31 Jan 2026 01:33:37 GMT

Why am I being taxed on the difference between the gross distribution (box 1) and the taxable amount (box 2a)? The difference between those two is showing as income on my 1040. I did not receive the gross distribution amount. I received a check for the taxable amount and deposited it into my new account.

The reason there is a difference is because I closed one retirement account (annuity) and moved the funds to a new company on advice of my agent. There was a penalty for doing so.

Re: 1099-R

VolvoGirl — Sat, 31 Jan 2026 01:35:54 GMT

If you are looking at an income summary screen or review screen those show all the full amounts as income and lump a lot of stuff together. You need to check the actual 1040 line 4b or 5b and make sure it's right.

Re: 1099-R

DoninGA — Sat, 31 Jan 2026 01:36:42 GMT

The taxable amount shown on box 2a on the Form 1099-R is what is entered on the Form 1040 Line 5b.