Question

Does Turbo tax ever ask me about a qualified distribution from my IRA or was the amount on the 1099-R supposed to reflect the amount of the qualified distribution?

Forum|Forum|5 years ago
February 4, 2021
1 reply
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The amount on my 1099-R from my IRA reflects the gross distribution. Part of that amount was for a qualified distribution. Shouldn't the amount on the 1099-R be reduced by the qualified distribution? If not, shouldn't Turbo Tax ask me about it somewhere?

TurboTax Premier Online

T

ThomasM125

I think by qualified distribution you mean that part of the money in your retirement was contributed by you from deductions from your pay that were from taxable income. So, when you receive those payments back, they are not taxable.

If so, your employee contributions would be listed in box 9(b) on form 1099-R. Once you input that entry in TurboTax, it will ask you questions about that to make sure you get a deduction from the distribution reported in box 1.

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