topic Re: 1099-R with multiple amounts in Retirement tax questions

1099-R with multiple amounts

s1d2c3m4 — Sun, 09 Feb 2020 01:01:20 GMT

I'm working on my mother's taxes and her 1099-R has 3 lines under each column. Box 1 has 329.60 on line one. 341.52 on line two and 264.06 on line three.

These same amounts are in the second column for box 2(a).

Re: 1099-R with multiple amounts

AlexanderS08 — Sun, 09 Feb 2020 01:14:35 GMT

Each Box on your mother's 1099-R has a corresponding box in the TurboTax entry screen for 1099-R's. I recommend you enter the information exactly as it appears on your moms 1099-R.

The fact that both columns have the same amount most likely just means the entire amount is taxable.

Re: 1099-R with multiple amounts

s1d2c3m4 — Sun, 09 Feb 2020 01:26:47 GMT

I noticed that each line has a different fund name on it. Is it possible they did this rather than send three 1099-R forms?
basically box 1 has 3 lines and 3 different numbers. Box 2(a) has 3 lines and those amounts match the number in the corresponding line for box 1.

It's like I have three 1099-Rs on one form.

Re: 1099-R with multiple amounts

macuser_22 — Sun, 09 Feb 2020 01:32:39 GMT

@s1d2c3m4 wrote:

I noticed that each line has a different fund name on it. Is it possible they did this rather than send three 1099-R forms?
basically box 1 has 3 lines and 3 different numbers. Box 2(a) has 3 lines and those amounts match the number in the corresponding line for box 1.

It's like I have three 1099-Rs on one form.

There are a couple of financial institutions that assign a different account number to each fund and list them seperartely that way - most financial institution only provide the total amount in box 1 and 2a. It is OK for you to just add the amounts and enter the total into box 1 and 2a.

(If you had 15 funds there could be 15 lines and you don't want to enter 15 1099-R's)

Re: 1099-R with multiple amounts

tooberand — Sun, 11 Apr 2021 20:26:20 GMT

I have a 1099-R with five lines that are all the same EXCEPT the last line has the "Total distribution" box checked while the first four do not? Should I just go with one summed entry and check the "Total distribution" box?

Re: 1099-R with multiple amounts

fanfare — Sun, 11 Apr 2021 20:42:02 GMT

"Total distribution" means you emptied out that IRA.

Don't mark that box unless it applies.

Re: 1099-R with multiple amounts

erlnky — Sat, 01 Mar 2025 01:28:37 GMT

What an absolutely idiotic and worthless response. Did you even read the question?