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1099R

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Level 1
last updated ‎May 11, 2020 10:01 AM

Completed a 1099 R input with distribution code 7D with gross distribution significantly greater than taxable amount.  All dollar inputs were correct, but inadvertently checked "IRA".  That error resulted in the gross distribution amount overriding the taxable amount.  No error indicator appeared and the error was discovered when the return was printed.  

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Level 8
last updated ‎May 11, 2020 10:01 AM

of course no 'error indicator' appeared...…….be hard for the software to 'know' you didn't mean to check IRA.

I'm assuming you have already filed the return... so your only option is to Amend... and paper mail the 1040X with the correction.  Good luck with that, as the IRS is not really accepting paper returns at the moment I don't think.

 

 

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Level 10
last updated ‎May 11, 2020 10:01 AM

@dd4vols "be hard for the software to 'know' you didn't mean to check IRA."

Is it ever possible to have the "D" code, which means "non-qualified annuity", with an IRA?

Or possible, but highly unlikely?

The question is how many dumb mistakes should the software protect us from.  "If D but IRA then ask" is not difficult to program, but it's probably not needed for more than one out of 10,000 users.  

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Level 10
last updated ‎May 11, 2020 10:01 AM

Did you e-file it before you printed it and had the taxpayer approve it?

That's a no-no.

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