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I have a questions, why is my 401k withdraw added twice as income my total income is 100k ?? One 1099R was a roll-over and the other 1099R is only the withdrawal.

Forum|Forum|7 years ago
June 3, 2019
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Best answer by Patrice11

The IRS requires that a rollover be included in your TOTAL income, but it is not considered TAXABLE income. All distributions must be reported on your tax return. However, that does not mean that it is being taxed or that it affects your tax in any way. That screen shows all income both taxable and non-taxable. The distribution will show on your tax return with the word ROLLOVER next to it. You have to check the actual 1040 return. Line 16b is the taxable amount and it should say ROLLOVER by 16b (1040A line 12b). TurboTax will include the entire distribution on Form 1040 line 16a or Form 1040A line 12a but exclude the amount rolled over from the amount shown on line 16b or 12b.

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Patrice11Answer

Employee

The IRS requires that a rollover be included in your TOTAL income, but it is not considered TAXABLE income. All distributions must be reported on your tax return. However, that does not mean that it is being taxed or that it affects your tax in any way. That screen shows all income both taxable and non-taxable. The distribution will show on your tax return with the word ROLLOVER next to it. You have to check the actual 1040 return. Line 16b is the taxable amount and it should say ROLLOVER by 16b (1040A line 12b). TurboTax will include the entire distribution on Form 1040 line 16a or Form 1040A line 12a but exclude the amount rolled over from the amount shown on line 16b or 12b.