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February 20, 2021
Question

Does the $42,241.04 get added twice to my income?

  • February 20, 2021
  • 1 reply
  • 0 views
1099-R is added to my income along with my Job (W-2)'s.  It appears to me it is added twice.

1 reply

DoninGA
Employee
February 20, 2021

The Form 1099-R is not entered in the W-2 section for wages, so if you entered it as a W-2 delete the W-2. 

 

However, if the 1099-R has a code of 3 (Disability) in box 7,  then the taxable amount from the 1099-R box 2a is entered on Line 1 of the Form 1040 as wages if you were under the minimum retirement age for your place of employment.

 

Enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

On the screen Did you get a 1099-R in 2020? Click on Yes

On the next screen click on Continue

On the screen Let's import your tax info Click on Change how I enter my form

On the screen How do you want to add your 1099‑R? Click on Type it in myself