Please clarify what numbers you are looking at. You said your retirement income is not added correctly. Are you talking about what TurboTax shows on its "Income Summary" screen for retirement income, or are you looking at your Form 1040 lines 4b and 5b? You stated that the numbers are correct. Are you adding up all of your Forms 1099-R and SSA-1099, Box 1 to determine this? Did you review all of your Forms 1099-R to make sure they were input correctly? Sometimes a typo occurs and you don't notice it. I would go back through and make sure all of your retirement income is input exactly as it is shown on your tax documents. You can edit a Form 1099-R as follows: In TurboTax online, Sign in to your account and select Pick up where you left off. From the upper right menu, select Search and type in 1099r and Enter. Select the Jump to 1099r. Follow the prompts to edit. Retirement income can include social security benefits as well as any benefits from annuities, retirement or profit sharing plans, insurance contracts, IRAs, etc. Retirement income may be fully or partially taxable. Pension and annuity payments from qualified retirement plans are fully taxable. State tax laws vary. Some exempt certain types of pensions, such as military or government pensions, from state income taxes. Others allow a portion of any type of pension income to escape state income taxes. A few states fully tax pension income. You should get a Form 1099-R from the payer each year showing how much income you received. Click here for information on entering Form 1099-R in TurboTax. Cliick here for when to use a Form 1099-R

Question

For some reason my Total Retirement Income is not adding correctly. The numbers are correct but the total is off by $200?

Forum|Forum|2 years ago
February 6, 2024
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TurboTax Deluxe Online

LindaS5247

Please clarify what numbers you are looking at.

You said your retirement income is not added correctly. Are you talking about what TurboTax shows on its "Income Summary" screen for retirement income, or are you looking at your Form 1040 lines 4b and 5b?

You stated that the numbers are correct.

Are you adding up all of your Forms 1099-R and SSA-1099, Box 1 to determine this?

Did you review all of your Forms 1099-R to make sure they were input correctly? Sometimes a typo occurs and you don't notice it. I would go back through and make sure all of your retirement income is input exactly as it is shown on your tax documents.

You can edit a Form 1099-R as follows:

In TurboTax online,

Sign in to your account and select Pick up where you left off.
From the upper right menu, select Search and type in 1099r and Enter.
Select the Jump to 1099r.
Follow the prompts to edit.

Retirement income can include social security benefits as well as any benefits from annuities, retirement or profit sharing plans, insurance contracts, IRAs, etc. Retirement income may be fully or partially taxable.

Pension and annuity payments from qualified retirement plans are fully taxable.

State tax laws vary. Some exempt certain types of pensions, such as military or government pensions, from state income taxes. Others allow a portion of any type of pension income to escape state income taxes. A few states fully tax pension income. You should get a Form 1099-R from the payer each year showing how much income you received.

Click here for information on entering Form 1099-R in TurboTax.

Cliick here for when to use a Form 1099-R