Turbo Tax online shows "Retirement income results" distributions. "Traditional and Roth" row and "Pension and annuity" row. Numbers are flipped. Software glitch?

Forum|Forum|1 year ago
February 20, 2025
1 reply
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All 1099-R entries verified. Why is the Annuity number in the Traditional IRA row and the the 401k number in the Pension and annuity row? Will that cause a reporting problem?

JohnB5677

Yes, that could be a problem. I suggest you confirm what is posted to your tax return lines 4a and 5a.

From the left sidebar

Select Tax tools
Hint: You may have to minimize the Federal and State selections
Click Tools
A Menu will pop up
Select View tax summary
On the left panel click Preview my 1040
4a - IRA distributions
5a - Pensions and Annuities

You've stated that you double checked the posting of the 1099-Rs.

If 4a and 5a are incorrect, please check it again.

I've not seen this issue before. If it does please contact me at @JohnB5677

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josephbrochuAuthor

Thank you. I checked again and did notice that the 1099R with the IRA / SEP / SIMPLE box checked is and that taxable amount is on line 4b. The other two 1099R's (one 401k distribution and one Roth 401k distribution) do NOT have the IRA /SEP / SIMPLE box checked and the total of those two amounts are on line 5a (gross) and 5b (taxable). I'm thinking that check box determines which line 4 or 5 they end up on?

dmertz

Employee

Correct. If you marked that box on TurboTax's 1099-R form in agreement with the marking on the Forms 1099-R provided by the payers, the amounts are being reported on the correct lines. Apparently your annuity is an IRA annuity required to be reported on lines 4a/4b. The 401(k) distributions are considered to be pension distributions (not IRA distributions), so they go on lines 5a/5b.