Question

1099-R calculation error

Forum|Forum|4 years ago
March 11, 2022
1 reply
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I have a 1099-R for a gross distribution. The taxable amount in 2a shows $0.00. The "Total Distribution" box is checked. But, the amount shows up in my total income when it shouldn't. How do I correct it?

D

DianeW777

It depends. You may need to go through the questions again if you know the distribution should be tax free. A zero in box 2a does not always indicate that the distribution should be tax free.

Search (upper right) for 1099r > Jump to... link > review your 1099-R entry

If there were after-tax contributions then some or all of the distribution may be tax free.

If all of the money placed in the retirement account was employer funds or pre-tax employee funds then all of it would be taxable.

If you funded an IRA and some or all of the contributions were NOT deductible then that portion may be tax free.

If this is a Roth IRA and you are retirement age (over 59 1/2) then none of it should be taxable

If you know that none of the distribution should be taxed based on one of the criteria above, then try removing the zero and then Preview My 1040 again.

Please add further clarification if you need further assistance.

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