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W-2 line 1
Sir,
I am a former postal worker.
My statement if annuity shows I recieved
line 1 Gross Distributution $32556.00
line 2 taxable amount 32075.88
line 4 fed income tax withheld 2248.32
Yet, I am asked to put in line 1 of W-2 which is wages tips other comp which is $166.75 and compared to last year the number is over $21,000. And so far my refund is only $50. I am at a loss and not sure if I am on right track with so much difference in comparsion to last years numbers.... what am I missing filling out the online form.. Also I started investing in rental real estate and have a K-2 form ... where will I see link for that for the credit I will get for depreciation purposes?
reguards,
Bruce
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W-2 line 1
Your gross distribution from your annuity account would be reported to you on a 1099-R. Accordingly, in TurboTax, you would enter this information as a 1099-R and not as W-2 (wages) by following these steps:
- While in your Tax Home,
- Select Search from the top right side of your screen,
- Enter 1099-R,
- Select Jump to 1099-R,
- Follow the On-Screen Prompts to complete this section.
For your K-1 that you received on your investment rental properties, you would enter it by following these steps:
- While in your Tax Home,
- Select Search from the top right side of your screen,
- Enter K-1,
- Select Jump to K-1,
- Follow the On-Screen Prompts to complete this section.
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