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Forum|Forum|4 years ago
February 7, 2022
1 reply
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Please assist with return, when in review the following keeps coming up and not sure how to complete

Lump Sum Distribution Worksheet needs a figure?

I did not take a lump sum distribution, I receive a monthly pension

RaifH

Level 10

Please verify your entries into TurboTax:

If you received Social Security, go to Federal > Income & Expenses. Scroll down to Retirement Plans and Social Security and click Revisit on Social Security.
Ensure that the benefits are entered correctly and hit Continue.
Did you receive any lump-sum payments? Answer No if no lump-sum payments are indicated on your Form SSA-1099.

Next, take a look at the 1099-R:

Federal > Income & Expenses. Scroll down to Retirement Plans and Social Security and click Revisit on IRA, 401(k), Pension Plan Withdrawals (1099-R).
Ensure the entries match your 1099-R. Pay attention to the total distribution box and the distribution code.
Answer the additional questions.

If the error still hasn't been cleared, please let us know whether the Total Distribution Box on your 1099-R has been checked and the distribution code on the 1099-R.

naugyconAuthor

Level 2

I checked the info input on social and pension....it looks correct

also not a total distribution, I receive monthly checks.

The error comes up in CT Tax Return under

Lump Sum Distribution Smart Worksheet

Lump sum distribution from form 4972

I do not know what else to do, is there someone who could check this out????

AmyC

Level 15

Ahh! You should not be showing lump sum. A monthly check is a periodic payment. You need to let the program know. Please follow these steps:

Log back into your return
Go to Federal Income section
Select the 1099R and Edit
Continue through entry screen,
Double check, IRA box is blank
Continue
Public Safety Officer, NO
Continue
Where is this from? usually None of the Above, but select the correct answer for you
Continue
Select From a qualified plan
What did you do?
Select something else, cash, etc
Continue
Periodic payments?
Select yes , you get monthly checks
Continue
Withdrawal due to disaster?
Select NO
Continue