multiple 1099-R from same retirement account

[Sarah Parker]

Good morning!

I have two 1099-R forms from the same TIAA retirement account. One has the expected amount, based on monthly disbursements. The other is for $0.51 - that's the gross distribution amount in Box 1.

TurboTax will not accept that amount.

Should I (a) combine the numbers on the two forms - they're REALLY from the same account; I've looked at the account details online and it's all from the same account, or (b) round that up to $1.00, or (c) something else entirely?

Thank you.

[AmyC]

The IRS only accepts rounded numbers so go ahead and round up to $1.

[Sarah Parker]

Amy, thanks for the reply.

There are non-zero values in boxes 2a (same as Box 1), box 4 ($0.05), box 14a ($0.03) and 16a (same as box 1).

Should those also be rounded up to $1.00, or only Box 1 (gross distribution)?

[AmyC · Accepted solution]

Only box 1 needs to be rounded up. The rest can round down to zero.