Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

ProSeries is not treating 1099R income correctly? I have a 1099R with a code 4, which should be treated as taxable income, the program is treating it as non-taxable.

Highlighted
 
Labels (1)
0 Cheers
5 Replies 5
Highlighted
Level 15
Level 15

So the figure in Box 2b isnt appearing n the 1040 on Line 4b or 4d?   Is there a Form 8606 in the return?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Highlighted

That is correct.  the taxable amount from the 1099R, box 2a is not appearing on line 4D of the 1040.  It is included in the total on line 4C of the 1040. 

There is nothing else...no 8606..no basis recorded either.

 

I can't figure out what's wrong...

0 Cheers
Highlighted
Level 11

Code 4 just means death benefit. Does your client have non-deductible basis in the IRA worksheets?

** I'm still a champion... of the world! Even without The Lounge.
Highlighted

No, no basis in IRA. 

0 Cheers
Highlighted
Level 15
Level 15

Ive had a bad 1099R worksheet in the past, have you deleted the 1099R worksheet and started over with a fresh one?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers