Doubled income on summary sheet

Forum|Forum|6 years ago
March 11, 2020
5 replies
33 views

I entered 1099b and 1099r for Long term ESOP, income summery sheet counted both of them as income means I sold them for 50,000 but the income showed that my income was 100,000 how can I fix it?

macuser_22

Alumni - Champ

See this post:

https://ttlc.intuit.com/community/retirement/discussion/i-received-1099r-and-1099b-for-the-same-esop-sale-it-s-exactly-the-same-amount-on-both-forms-when-i/01/730414

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

AkLaAuthor

Level 2

This is not the case, I'm referring to the summery sheet it shows my income doubled not my taxes I originally sold my stock for 50,000 as I mentioned and showed on the summery sheet 50,000 for the 1099r and 50,000 for the 1099b when I file my taxes my AGI is going to show that total , how do I fix it in steps if possible

thanks

macuser_22

Alumni - Champ

It will show as income on the summary screen which shows gross income, not taxable income.

The IRS requires reporting all income on a *income* tax return - taxable and not-taxable.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**