How can TurboTax help to change the value of "Total IRA distributions" reported on the IRS Tax Return Transcript to the correct value which is half of what's reported?

Forum|Forum|10 months ago
May 22, 2025
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VolvoGirl

What line are you questioning? Line 4a or 5a? Did you do a rollover or conversion? Yes the "a" line can show more than what you took out. Line a is the total of all your 1099R box 1. So it can be double like if you rolled over $xx and then took a distribution of the same amount. Just make sure the taxable amount on line "b " is right.

If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 form and make sure it's right. Check lines 4b & 5b for any taxable amounts. For a rollover line b should be zero or just the taxable amount and the word Rollover by it.

beldenbdAuthor

Thank you for your response. MY 1040-SR Line 4b reads, "Taxable amount ROLLOVER 38,657."

The IRS 1040 Tax Retutn Transcript under the heading Income lists "Total IRA distributions: $77,314." That is exactly twice what is on my 1040.

rjs

@beldenbd wrote:

Thank you for your response. MY 1040-SR Line 4b reads, "Taxable amount ROLLOVER 38,657."

The IRS 1040 Tax Retutn Transcript under the heading Income lists "Total IRA distributions: $77,314." That is exactly twice what is on my 1040.

"Total IRA distributions" on the Tax Return Transcript is line 4a of your 1040-SR, not line 4b. Line 4b of your 1040-SR is "Taxable IRA distributions" on the transcript. There are many reasons that line 4a could be twice as much as line 4b. The rollover could be part of the reason.

It's not clear exactly what your concern is. The IRS Tax Return Transcript is not the problem. You have not given any detail about your IRA transactions or your 1099-R forms.

rjs

TurboTax cannot change the IRS Tax Return Transcript.

What do you mean by "what's reported"? Reported where? Are you referring to the total of your 1099-R forms or an amount on your tax return? If "Total IRA distributions" on the Tax Return Transcript is equal to line 4a on the Form 1040 that you filed, then the transcript is correct.