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BWest1
Returning Member

1099R problem - not showing 1040 line 4b correctly

I have an IRA, took an RMD from that IRA in 2018 AND I rolled over the balance after that RMD distribution was taken to another IRA.  The 1099R shows the sum of the two transactions -- box 1 and box 2a both have the sum of RMD+Rollover amounts.  Box 2b has both boxes checked.  Box 4 shows amount withheld.  Box 7 is a 7.  IRA/SEP/Simple is checked.  This is the entire 1099R, all other fields are blank.  This is the info entered in TurboTax.  When I went through the step-by-step, I get a screen that says "you told us the entire amount was rolled over" which is NOT correct.  I then switched to forms to see the 1099R worksheet to verify the information, saw that the RMD section was blank so I populated that with the correct amount.  In the additional distribution info section of this worksheet, I also had to manually populate the correct rollover amount in line B2.  The taxable amount in 1040 line 4b should be the RMD amount, but it shows as $0 and clicking in that field simply takes me back to the IRA Worksheet.   How do I get the RMD amount to show correctly as taxable???

7 Replies
NCperson
Level 15

1099R problem - not showing 1040 line 4b correctly

can you break up what I presume is one 1099-R and make believe it's two 1099-R to test that it would work correctly that way?  at least that way you can determine if TT is having trouble with a form that has both a RMD and a rollover on the same form.

Kay9
Returning Member

1099R problem - not showing 1040 line 4b correctly

Mine is not working either. I have 2 separate 1099 R's I have input and it shows incorrectly on the 1040

 

NCperson
Level 15

1099R problem - not showing 1040 line 4b correctly

please be more specific when you state it is not showing correctly.

 

did you go back and ensure everything was keyed in correctly?

 

odd that no one else is posting about this issue. 

BillM223
Expert Alumni

1099R problem - not showing 1040 line 4b correctly

[note, this is for one 1099-R with an RMD and a partial rollover]

 

Please do the following:

 

  • open your return in TurboTax
  • do a Search for "1099-R"
  • Click on the jump-to link
  • delete your 1099-R in question (make sure you have a copy)
  • add a new 1099-R
  • in the interview, enter the 1099-R
  • When you get to the screen with the heading "What did you do with the money from (plan administrator)?", check "[name} moved the money to another retirement account..."
  • Three new lines appear, check the option, "[name] did a combination of rolling over, converting, or cashing out the money"
  • More new lines appear - enter only the amount you actually rolled over (as noted here, the rest will be assumed to be taxable)
  • COMPLETE the 1099-R interview - for some reason, the 1040 is not updated until some point near the end of the interview (perhaps until the RMD question is asked)
  • Now check lines 4a and 4b to see if they are correct.

[Edited 1/30/2020 11:35 am CST]

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Kay9
Returning Member

1099R problem - not showing 1040 line 4b correctly

I had several problems with TT premier for 2019.

1) I entered 4  1099 R forms and looking at "forms" it showed the correct info, but on the 1040 page, it only showed the total of 2 of the entries.

- It also created 8606-T and 8606-S which had "do not file" in red on the top of the form

I worked with a TT rep for almost 3 hours and we tried deleting these forms, but they kept popping up again. Even deleted all the 1099 R data and re-entered it all, same results

2) It kept creating a 1040 SR with standard deductions even tho' I had entered several itemized deductions - which showed up on the "forms" but not on the 1040 page

3) The print preview with option "all forms needed to file" would not show Schedule E data unless the option "choose specific forms" was chosen and then "Sch E".  So the complete 1040 didn't have Schedule  E data 

Very frustrating experience using the software  this year.....

timeisprecious
New Member

1099R problem - not showing 1040 line 4b correctly

I tried separating one 1099R into two.  One to process the RMD and one to process the conversion to a Roth with some left over.  I was hoping the RMD would have been added to a different RMD.  It did not.

 

The other RMD shows on 1040-SR line 4b noted as a "Rollover"  which it is not.

 

I also tried deleting and entering over again as suggested as well.  I had entered it the same way originally. But still not correct.

 

I am curious why more people have not run into this problem.

BillM223
Expert Alumni

1099R problem - not showing 1040 line 4b correctly

Based on what I heard you say, this is what I did in my test return.

 

Enter your 1099-R. Work through the subsequent screens until you see "About This Retirement Account" (you will see this only if you were 70 1/2 last year).

 

Answer "Yes, some or all of this withdrawal was an RMD".

 

This will expose a new line -  answer whether part or all the the withdrawal was an RMD.

 

If you answered "part", then a new line will ask "how much applies to the RMD".

 

 

Then the next screen is titled: "Transfer to Charity?" Here you indicate NONE.

 

The next screen asks "What did you do with the money from this distribution?" Answer that "you moved the money to another retirement account".

 

This will expose three new lines. Indicate that you did a combination of rolling over, converting, or cashing out.

 

This will expose several more lines. Enter the amount that you going to the Roth IRA. This will be treated as taxable income. If there is money from the distribution left over after the RMD (which is taxable) and the Roth IRA conversion, then this money will be listed as taxable income, too.

 

Did you do these steps? The result of the foregoing is that you reported doing three things with the distribution: an RMD, a Roth IRA conversion, and some extra for general use, and all three are taxable.

 

Tell us what you did that was different.

 

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