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ksofwh
April 5, 2025
Question

My 1099 has a gross distribution and a taxable amount. Why is TurboTax using gross distribution

  • April 5, 2025
  • 2 replies
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    2 replies

    AmyC
    AmyC
    April 5, 2025

    Review your entries and the questions that you answered. Somewhere along the way, you convinced the program that the full amount should be taxable. We can't see your forms or return to know what you have to reduce the taxable amount or what questions you answered.

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    SteamTrain
    SteamTrain
    April 5, 2025

    It does depend on what exactly you are referring to.

     

    IF it's the RMD amount...that tends to be stated as the gross amount.

     

    But, Only the taxable amount should transfer to line 4b or 5b of the 1040.

    ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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