1040-SR IRA and PENSIONS reporting is incorrect with TurboTax Desktop

Forum|Forum|2 years ago
February 12, 2024
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I have 5 1099-R's for RMD distributions and one 1099-R for a Rollover from a 401K employer to my IRA when I left that job. I also have 2 1099-R forms for my two State Pensions. I entered this all correctly in my Desktop software panels but when I view the resulting 1099-R it has a BLANK line 4A and a 4b taxable amount that is actually short by a few thousand dollars. The word ROLLOVER is typed between the verbiage for 4b and 5b, then on Pensions line 5A it has a large amount that includes the IRA Rollover. line 5b has 13,914. My actual pension amounts should have 5a 12,222 and 5b 12,215, instead 5b has 13,914.

If you cannot fix the software to reflect these lines correctly, can you please let me know how to override it to get my 1040-SR to print correctly? I did not have this problem last year with Turbo Tax Deluxe. This year I am using Turbo Tax Home and Business.

TurboTax Home & Biz Windows

Best answer by VolvoGirl

Check that the IRA 1099R have the little IRA box checked between boxes 7 & 8.

If line 4a is blank that is because it is the same as 4b. The IRS doesn't want 4a or 5a filled in if it is the same amount as the b line.

The 401K rollover 1099R goes on line 5 with pensions. So that is ok. And any 401k RMD should be on line 5 too.

VolvoGirlAnswer

Employee

Check that the IRA 1099R have the little IRA box checked between boxes 7 & 8.

If line 4a is blank that is because it is the same as 4b. The IRS doesn't want 4a or 5a filled in if it is the same amount as the b line.

The 401K rollover 1099R goes on line 5 with pensions. So that is ok. And any 401k RMD should be on line 5 too.

Pj551

I am facing a similar issue. I received three 1099-R forms due to a rollover from my employer's 401(k)/403(b) plan to my IRA account. I also have one 1099-R for a partial conversion of my IRA to Roth. I made sure to enter all this information accurately in the Turbo Tax desktop software, but when I check the resulting 1099-R, it shows a taxable amount for the Roth conversion on lines 4A and 4B. In contrast, the rollover IRAs appear on line 5a with the term "rollover." All three of the rollover 1099-R forms have a code G in box 7 and are blank between boxes 7 and 8. Why do the rollovers appear on line 5a instead of line 4a? Is this the correct outcome?