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2021 Taxes

Forum|Forum|3 years ago
February 17, 2023
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I am doing my taxes and just noticed that the amount showing in my 2021 form 1040 item 4a (IRA Distributions is double than the correct amount; not sure how this happened. in other words, it supposes to be 18.5 K and it is showing 37K? what should i do?

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Best answer by AnnetteB6

If the amount on Form 1040 line 4b is also greater than it should have been, then you need to file an amended return for 2021 since your taxable income amount was incorrect.

Also, go back through your tax records for 2021 and check any Form 1099-R that you received. Make sure you did not have a corrected Form 1099-R that may have been entered as a separate form on its own. Also, consider whether you had any distributions that were rolled into another like-kind retirement account. Those distributions would be reported on line 4a, but would not be included on line 4b as taxable.

A

AnnetteB6Answer

If the amount on Form 1040 line 4b is also greater than it should have been, then you need to file an amended return for 2021 since your taxable income amount was incorrect.

Also, go back through your tax records for 2021 and check any Form 1099-R that you received. Make sure you did not have a corrected Form 1099-R that may have been entered as a separate form on its own. Also, consider whether you had any distributions that were rolled into another like-kind retirement account. Those distributions would be reported on line 4a, but would not be included on line 4b as taxable.

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R

reynaldo520Author

Hello there, Thanks for your input.

I look at the 1040 and in line 4a is showing the double amount (it is exactly double amount of what my 1099-R have in #1. gross distribution) also line 4b in my 1040 is showing 0.

I am not sure how do to file an amended return for 2021?

Cheers

Rey