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tomy51
New Member

Incorrect Income Amount

I entered my income which comes to around $130k but Turbo Tax is showing my income as $441,574.00. Be nice if I had that much income but I don't.

 

I have triple-checkedTurbo_Tax_Error.jpg my entries and it does not add up.

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6 Replies

Incorrect Income Amount

Well...how much pension income did you enter?

 

Like one 1099-R with perhaps ~32,000 of income?

OR did you do some pension rollover(s) with larger amounts that perhaps didn't get recorded as rollovers?

 

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
tomy51
New Member

Incorrect Income Amount

So I do have a pension 1099-R distribution that is greater than $32K, but fail to see how that would equate to $322K of income.

Incorrect Income Amount

You need to edit the Form 1099-R that you entered to make sure an incorrect amount was not entered, or for a misplaced decimal point or for a comma entered for a decimal point.

Incorrect Income Amount

Do you have more than one 1099R?  Did you maybe roll over or convert a 401K to another plan?  

tomy51
New Member

Incorrect Income Amount

OK, found it - user error in the tax withheld field.

Incorrect Income Amount

Tax withheld box 4 wouldn't make your income be higher.  

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