Problem in Turbotax Premier - 1099-R rollover and QCD data not getting onto the 1040 (line 4b).

[veehbj]

The 1099-R showed gthe 2022 RMD that I took in 2022.  Too much was taken out, so within the 2 month window this extra $8,000 RMD was put back into the IRA.  I also made a QCD from the IRA.  I have worked with the worksheets and these transactions show up, but will not transfer to the 1040.  I've tried everything.

The 1040 shows the total RMD, before the rollover and before the QCD.  It shows only a total RMD, and zero taxable amount.  I can't get it to reflect these two entries on the 1040 line 4b.  No way to override this entry on the 1040.  I've entered an explanation statement on 1040 line a, doesn't help.   I Tried for a long time to call Turbotax phone support and finally found that the support team doesn't work on Saturday???   Guess I'm stuck until Monday.

Anyone have a suggestion as to how to get the rollover and QCD to change the numbers on the 1040?  Starting to wish I'd hired a CPA.  Been a Turbotax user for 25 years.  First time I can't make it work.

Thanks,

Veehbj

[dmertz · Accepted solution]

The entire gross amount from box 1 of the Form 1099-R must be present on Form 1040 line 4a.  Assuming that you have no basis in nondeductible traditional IRA contributions, if the amount on line 4b is not equal to the amount on line 4a reduced by the $8,000 rollover and the QCD, you've entered the Form 1099-R incorrectly.  Line 4b should also show the notation "STMT" to indicate that a statement is included with your tax return to show that the reduction in the amount on line 4a is for a combination of a rollover and a QCD.  If this is not the result you see on line 4b, I suggest deleting and reentering the Form 1099-R.

When entering the Form 1099-R from the traditional IRA, you must indicate that a portion was transferred to charity and enter the amount.  You must also indicate that some of the distribution was RMD and indicate the amount that was RMD (at least $8,000 less than the amount of the distribution; the extra amount distributed was not part of the RMD).  You must then indicate that you moved the money to another retirement account or back to the same account, that you rolled over part of the distribution and that the amount rolled over was $8,000.  (You should not be making any of the entries in forms mode of the CD/download version of TurboTax.)

[veehbj · Accepted solution]

dmertz,

Just wrote a reply to your message and before I could send it, it was deleted.  I'm finding this area of the Turbotax website to be a little difficult to navigate.  Don't see an easy way to see the questions I've entered here, nor my replies to other's questions.

Your answer to my questions was "spot on".  Took me a while to find the series of questions to define the taxable portion of the RMD.  I'd been through it earlier last week, but somehow the numbers got changed.  I started over and answered all the questions regarding the 1099-R and then the series of questions on the rollover and the QCD.  Finally got it all entered and the taxable amount is now correct.   

I appreciate those who take time to offer help for some of the areas difficult to navigate in Turbotax.

Find it difficult to keep my 1040 from using the standard deduction rather than the itemized deductions.  My wife and I file taxes separately and she needs to itemized because of her many medical expenses.  Forces me to itemize and I end up paying more income tax.  No easy way to avoid that as she has someone else do her taxes (her brother-in-law CPA). We have our own money and so pay taxes independently .

Thanks again.  I got past this problem and once I get the itemized deduction to "stick" I'll be ready to file my 2022 taxes.   Now to see if I can post this!