Question

My taxable RMD from an IRA shows up in 4a but somehow it does not carry into taxable income in 4b on the 1040. Is this a program or an entry issue?

Forum|Forum|6 years ago
February 2, 2020
1 reply
0 views

There is a QCD but it is only a portion of the RMD and therefore I would expect the net amount to be included in the AGI.

TurboTax Online

D

dmertz

Employee

If you have basis in non-deductible traditional IRA contributions, be sure to click the Continue button on the Your 1099-R Entries page and answer the additional questions, in particular that one that asks for your year-end balance in traditional IRAs.

R

RogerS1Author

Hi Dmertz,

Thank you. I think your answer is putting me on the right track as I have basis. Do I enter the percentage distribution on line 8 of the 1099R and if yes how do I calculate it? I did not see the question you refer to bellow "answer the additional questions, in particular that one that asks for your year-end balance in traditional IRAs." Your help is much appreciated,

D

DianeC958

It is an entry issue. Since you have a QCD from your IRA the amount that went to the charity is not taxable and would not show on line 4b.

The amounts in Box 1 and Box 2 of your 1099-R should be different based on the amount of the QCD. The amount in Box 2 carries then to Line 4b and adds to your taxable income.

If you have basis in the IRA there should an amount in Box 9b the amount is your basis in the IRA, if that amount is there TurboTax will calculate the taxable amount using that information.

Link to more information about IRA Frequently Asked Questions

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