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January 11, 2024
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I've entered all of my taxable income but the final number on the 1040 worksheet is tooooo low. We have SS 2x and 5 IRA distributions. Anyone else having this issue.

  • January 11, 2024
  • 1 reply
  • 0 views
It's off by 30k or more. Says 107k total but only 32k taxable Only one Roth Distribution of 15k
Best answer by dmertz

If the taxable amount is truly incorrect by that much, it's going to be due to an entry error.  Look at the individual lines of the Form 1040 Worksheet to see which particular line shows a taxable amount that is too low.  In particular, check line 4b where the taxable amount of the IRA distributions will be.  If that line is too low, check the Forms 1099-R that you have entered.  Be sure to click the Continue button on the page that lists the Forms 1099-R that you have entered and verify all of the information that TurboTax asks you to provide.

1 reply

dmertzAnswer
Employee
January 11, 2024

If the taxable amount is truly incorrect by that much, it's going to be due to an entry error.  Look at the individual lines of the Form 1040 Worksheet to see which particular line shows a taxable amount that is too low.  In particular, check line 4b where the taxable amount of the IRA distributions will be.  If that line is too low, check the Forms 1099-R that you have entered.  Be sure to click the Continue button on the page that lists the Forms 1099-R that you have entered and verify all of the information that TurboTax asks you to provide.

January 13, 2024

I did not select simple IRA for one one of the 5 1099-R. Ok Now Thanks!