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1099-R question: shows 0.00 in Box 2. When I enter this document, my State Tax Due number increases by $2,000+. What's wrong?

Forum|Forum|7 years ago
June 4, 2019
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I retired and took out all of the money in my 401-K. I received two different 1099-Rs from the plan custodian. The larger amount was pre-tax and was rolled over. When I entered this 1099-R into TT, no changes to my tax due / refund numbers resulted. The second 1099-R was for my smaller, after-tax amount ($64,882.89). When I enter this document, my state tax due number jumps by over $2,000 -- but I already paid both the federal and state income taxes on this money years ago - before I put it into my 401-K. Whats wrong? Thanks.

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Best answer by Anita01

There is nothing wrong. First of all, remember to answer all the questions following the form entry. Then, the change in your state tax does not reflect everything that you enter in the federal program. You can't focus on the state refund monitor because it's just an estimate and not completely accurate until you go through the state program and answer all the questions there.

A

Anita01Answer

Employee

There is nothing wrong. First of all, remember to answer all the questions following the form entry. Then, the change in your state tax does not reflect everything that you enter in the federal program. You can't focus on the state refund monitor because it's just an estimate and not completely accurate until you go through the state program and answer all the questions there.