Why is the 1040-SR Line 5a amount less than the Total Withdrawals (Gross Dist. Box 1) amount in the Your 1099-R Entries screen?

Forum|Forum|1 year ago
September 2, 2024
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The 1040-SR Line 5b amount is also less that the Taxable Amounts of the entries on the Your 1099-R Entries screen by the same amount.

TurboTax Online

NCPERSON1

@MikeyOh look on line 4a and line 4b - are some of the 1099-R IRA distributions?

MikeyOhAuthor

Yes! The difference IS the amount in 4b.
I am using last year's taxes as a practice year as I transition to TurboTax from using a tax professional. The 1040 they prepared has the same amount in 4b as my TurboTax prepared form. BUT, their 5a and 5b include that amount in those boxes. In other words, their 5a and 5b are higher than the 5a and 5b in the TurboTax prepared 1040 by the amount in both their and my 4b. Are they possibly correct and there is something else I have missed? Maybe something I accidentally checked or didn't check in those accounts with 1099-R IRA distributions?

Thank you!

VolvoGirl

Employee

Do you have the actual copies of the 1099R forms? There is a little IRA box between boxes 7&8 that is checked if it is for a IRA which determines which line 4 or 5 it goes on. You shouldn't have the same amount on both lines 4 and 5. If their return has one 1099R on both lines you better double check with them why.