topic Box 2a (Taxable Income) is different than my Gross Distribution (box 1) on my Form 1099R. Should I change my reportable income to reflect this amount? in Retirement tax questions

Box 2a (Taxable Income) is different than my Gross Distribution (box 1) on my Form 1099R. Should I change my reportable income to reflect this amount?

jd-1girl — Tue, 04 Jun 2019 22:35:18 GMT

Taxable Income (box 2a) of my Form 1099R is different than the Gross Distribution (box 1). Turbo Tax ask me to report both amount. Should I change both amounts to reflect only Taxable Income?

Your Gross Distribution will not necessarily be the same...

beth-mcmullin — Tue, 04 Jun 2019 22:35:19 GMT

Your Gross Distribution will not necessarily be the same as your Taxable amount. You should enter them exactly as reported on the 1099-R. I cannot speak to your particular situation, but they can be different because part of what you're receiving has already been taxed. For example, if you contributed money to a 401K after it was taxed, your distribution would show different figures in Box 1 and Box 2a. Hope this helps.