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January 23, 2025
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Receiving "Out of Balance" error while entering 1099-Q information

  • January 23, 2025
  • 1 reply
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Hello. As I was entering the "Gross Distribution", "Earnings" and "Basis" information from my 1099-Q, TurboTax is rounding the numbers to the nearest dollar. This results in the Gross Distribution not being equal to the Earnings plus the Basis which results in the "Out of Balance" error message. Am I ok to manually update the "Gross Distribution" entry even though it won't match the 1099-Q form in order to clear the error message?

    Best answer by Hal_Al

    Yes. It's a common problem and that is the solution.

    1 reply

    Hal_Al
    Hal_AlAnswer
    Employee
    January 23, 2025

    Yes. It's a common problem and that is the solution.