IRA Distribution

4 replies
32 views

I have entered my IRA distribution and taxable amount on the worksheet and its being reflected on the tax return as a Pension distribution. How do I get it reflected as an IRA distribution?

DanaB27

Employee Tax Expert

Please go back to the 1099-R section and verify that you checked the IRA/SEP/SIMPLE box:

Click "Federal Taxes" on the top and select "Wages & Income"
Click "I'll choose what to work on"
Scroll down and click "Update" next to "IRA, 401(k), Pension Plan (1099-R)"
On the "Your 1099-R Entries" screen click "edit"
Verify that the IRA/SEP/SIMPLE box is checked (under the box 7 entry)

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

hmfic2134Author

Level 2

After "Edit" what do I enter on the 2023 worksheet to move my IRA distribution and taxable portion from Line 5a (Pension) to Line 4a (IRA Distributions ), I appear to have entered all the info but my IRA distribution keeps being reflected on Page 1 of the 2023 Individual tax return on Line 5a as contrasted to Line 4a.

Mike9241

Level 15

the IRA box must be checked on the Turbotax form.

Mike9241

DanaB27

Employee Tax Expert

When you are on the "Enter your 1099-R" screen (follow the steps mentioned above) scroll down and make sure that the IRA/SEP/SIMPLE box is checked (under the box 7 entry). Then TurboTax will list your distribution on line 4 of Form 1040.