Wrong state entered from 1099R

Forum|Forum|3 years ago
February 19, 2023
1 reply
13 views

When I downloaded a 1099R from my broker, Turbotax entered the amount withheld in Box14 with the wrong state ID and code shown in Box 15. My printout is correct with WIsconsin and 603 but Turbotax entered it as NY. When I started my state return, the withheld amount was off by the amount on the 1099R. I went through the program and found a place to enter the correct data.

SteamTrain

Level 15

Yep...that's why none of us should fully trust imported data....always go back and check it.

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Photo and PDF uploads are more prone to massive errors than imports directly from the Financial provider...but sometimes, even those direct-from-provider imports can go wrong.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Sparky43Author

Level 2

My data from my broker was 100% correct. I printed out the 1099R and it was perfect. Turbotax read the file incorrectly and filled the form out incorrectly as if the payment was made to New York. I only noticed it because my refund was the exact amount I had paid from my bank account. That was too much of a coincidence so I started looking for my payments and one was missing.

SteamTrain

Level 15

@Sparky43

IF you used the tax software to read your PDF...that's what I mean by that type of entry is prone to errors, and really needs a close look by the user.

IF instead you imported it directly from the broker...that file import is NOT using a PDF

......that import procedure uses specially-formatted tax files the broker prepares separately from what you see as your PDF download.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*