1099-R final figures on 1040

[tasslefree]

I entered my wife's 1099-R amount of 400,723.16, a rollover amount from her 401k to a traditional IRA. On my final filing form Turbo Tax entered these numbers: line 4c  443,333.

Line 4b  26,466.

Line 4d  42,570.

In between lines b and d is the word 'rollover.' I can't figure out where these numbers came from; there is no explanation on the worksheets. Can you help explain?

[GiseleD]

It sounds like more than one 1099-R is in play. Did you receive more than one 1099-R? If not, please double-check your entries, as you may have accidentally entered an extra one. 

As a note, 4c does not represent the taxable amount. It is correct that the rollover is on line 4c. Only 4b and 4d represent the taxable amounts. Since there is not an amount of 400k + on 4b or 4d, this tells me that you properly entered the rollover. 

Please note, I do not have access to your return here, as this is a public forum. 

[tasslefree]

Yes, I did enter more than one 1099-R; in fact I entered 3 others.

1) 22,727 with 1818 withholding

2) 42,569 with 2804 withholding

3) 3738 with 822 wh

I guess what I'm asking is where are the calculations for those amounts, I just don't understand the figures and hoping, trusting, that turbo tax has done the right math.

Thanks, Gisele

[AnnetteB6 · Accepted solution]

Based on the information you shared about the Forms 1099-R that you entered, it appears that the only difference between what you entered and what is showing on your tax return is probably a result of rounding off the numbers.

On your return, line 4 b represents taxable IRA distributions.  If you had IRA distributions of $22,727 and $3738, then that total would be $26,465.  If you entered dollars and cents, it may round up to $26,266 as shown on your return.  The IRA/SEP/Simple box will be checked on these 1099-Rs.

Line 4 d represents taxable pension distributions.  If the 1099-R for $42,569 also include some cents, it could be rounded up to $42,570.