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Johninnj
Returning Member

Tech Help - TurboTax to Forms is incorrect

Should have known better...one radio button is the answer. I was wrong. The item in question is disability pension benefits received prior to the MRA (Minimum Retirement Age) and SHOULD be included in Line 1 even though it is from a 1099-R, not a W-2. I should read further first! If you spent some time pondering this, thanks. 

 

In TurboTax 2020 Deluxe, I have entered two W-2s and two CSA 1099-Rs. All looks good in TurboTax for these entries.

 

However, the Form 1040 is pulling one of the CSA 1099-R amounts and included it in Line 1 for Salaries, etc. Form W-2, overstating Line 1. 

 

It also excluded the same CSA 1099-R amount from Form 1040 Line 5a and 5b, understating my Pensions and Annuities amounts.

 

So the net result is Form 1040 Line 1 is overstated while Lines 5a and 5b are understated. This is a wash, for my taxable income; however, how can I correct it properly?

 

I deleted all the W-2s and CSA 1099-Rs and reentered them with no change on how they are depicted on the actual 1040 Form.

 

I hate to make a manual edit in forms for fear it will corrupt the forms or impact other forms.

 

In the Forms view, I drilled down to both of the supporting documents and they show the CORRECT forms and amounts, but the INCORRECT amounts are depicted on Lines 1, and 5a and 5b.

 

Advice is appreciated!

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2 Replies
DaveF1006
Expert Alumni

Tech Help - TurboTax to Forms is incorrect

It depends.  If your CSA-1099-R has a code 3 as a distribution code in Box 7 and if you are under the mandatory retirement age of 59 1/2, this would be considered wages and not retirement income.  This may be the reason why this keeps appearing despite efforts to delete and reenter the same information.

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Tech Help - TurboTax to Forms is incorrect

A code 3 1099-R under retirement age is  a wage replacement so it counts as wages paid.  After retirement age it becomes a pension on line 5a/5b.

 

It is taxable income either way.  The only difference is, if wages it can be used for EIC if you otherwise qualify or is taxable compensation for IRA contributions.

 

 

 

 

**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.**
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