2004taxfile1
Level 1

@qbteachmt 

thank you for your advise!

I entered a 1099-R from Wages and Income section > IRA, 401(k), Pension Plan Withdrawals (1099-R)  > Add another 1099-R for my 2020 excess Roth IRA contribution.

Enter $7677 in box 1 as Gross distribution;

Entered $677 in box 2a for taxable amount,

For box 2b: Checked  box for Total distribution is checked.

Select P as distribution code. Entered State and State No.

Did not enter or select anything else. Finished.

After this is done, Federal Tax estimate increases about $1000, but taxable amt is only  $677,

Not sure what I did wrong? Please help, thank you!

.

0 Cheers