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February 9, 2025
Question

1099-R early distribution - Anyone else's 2024 Turbo Tax calculating tax as 10 times the distribution amount?

  • February 9, 2025
  • 1 reply
  • 0 views

Took early distribution in 2024, five figures with two decimal point digits. Turbo tax lists tax as ten times the distribution amount! Then bumps my federal to $1.5 million!? (way, way more than I earned in 2024!)

 

Double checked - 1099-R amount is entered correctly. Think this is a bug (10%=0.10 multiple, not 10.00 multiple)

 

Anyone else having this issue?

    1 reply

    February 9, 2025

    Resolved.

    Worked through Chat to get a phone number, then operator forwarded me to someone else.

    My line 2A had added a decimal point, or I had missed it on my keyboard. (user error entirely possible...)