topic Re: 2019 Proceeds from Broker in Retirement tax questions

I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

bmacdormott — Tue, 04 Feb 2020 00:03:34 GMT

Re: I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

macuser_22 — Tue, 04 Feb 2020 00:07:51 GMT

The gross distribution is the 1099-R box 1and taxable amount is box 2a.

Is box 2a actually more then box 1 on your 1099-R? The taxable amount is what part of box 1 is taxable, it can never be more than the total of box 1.

Re: I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

dmertz — Tue, 04 Feb 2020 00:48:24 GMT

There is an insurance company (I don't know which one) that apparently mistakenly believes that a Form 1099-R issued for something related to a loan from an insurance policy (I don't remember exactly what) is reportable in box 2a without including it in box 1. Is this your situation? If so, you are unlikely get a proper correction from the insurance company and you might be necessary to file a substitute Form 1099-R (Form 4852) to add the box 2a amount to box 1. However, before filing the substitute form you are first required to attempt to get a corrected Form 1099-R if the form provided by the payer shows an amount in box 2a greater than the amount in box 1.

Re: I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

Eagleonfinal — Wed, 01 Apr 2020 13:52:40 GMT

I have the same problem with a partial rollover and the numbers a exactly the same. is that the issue it is a complete rollover?

Re: I keep getting an error taxable amount should not be greater than gross distribution amount, ...

BillM223 — Wed, 01 Apr 2020 15:31:11 GMT

@Eagleonfinal

Are you saying that the amount in boxes 1 and 2a are the same, yet you rolled over part of the distribution to an IRA or other proper retirement account?

This would suggest that the issuer of the 1099-R was unaware that part of this distribution would be a rollover (and I can see how that would be possible).

Try going through the screens after the 1099-R and entering that part of the distribution was a rollover and see if that reduces the taxable amount.

Worst case is to split the 1099-R into two 1099-Rs, one with only the rollover portion and the other for the rest of the distribution.

Re: 2019 Proceeds from Broker

ninabedard — Fri, 03 Apr 2020 13:29:13 GMT

I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

Re: 2019 Proceeds from Broker

macuser_22 — Fri, 03 Apr 2020 14:23:28 GMT

@ninabedard wrote:

I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

Have you deleted the 1099-R and re-enter it?

IS box 2a more then box 1? If it is then that is an improper 1099-R.

Is it saying, perhaps, that the STATE distribution cannot be more than the state tax? That is an issue for NY when box 14 is blank and needs to be the same as box 1.

Re: I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

jyyonemura — Sun, 13 Mar 2022 00:20:17 GMT

I am getting the same error on the 2021 version. What was the resolution in 2020?

Re: I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

macuser_22 — Sun, 13 Mar 2022 00:31:39 GMT

@jyyonemura wrote:

I am getting the same error on the 2021 version. What was the resolution in 2020?

To make box 16 the same as box 1. Some states do not like an empty box 16 even though that is the accepted industry standard when there is only one state.

Re: I keep getting an error taxable amount should not be greater than gross distribution amount, I am entering EXACTLY what is on my 1099 R what is the issue

Glenn- — Sun, 20 Mar 2022 23:57:08 GMT

I had the same problem, so I deleted the form and tried entering it again. As I did so, I realized that I made a mistake the first time. I had taken a distribution and later put some of that distribution back into my IRA. After I corrected that oversight, the problem resolved itself.