1099R IRA

Forum|Forum|5 years ago
February 26, 2021
9 replies
22 views

In Proseries Basic, has anyone noticed that 1099R IRAs are not being taxed properly? I have called Intuit 3 times with no resolution.

ProSeries Basic

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T

TaxGuyBill

Somebody else posted an error about a Roth IRA that was calculating incorrectly (which I confirmed)

I'm not sure if your problem is the same or different, but if you post details about what is going on, maybe we can figure it out (or confirm that it is the same problem).

S

slwpwAuthor

Level 2

If I enter a 1099R that's NOT an IRA....it calculates correctly. If I enter one that has the IRA box checked it doesn't tax it at all. Note: I didn't check the ROTH IRA box....but, the regular IRA box. I hope that helps you figure it out. I have tried my best to relay this info to Intuit but, they don't see it as a problem.

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TaxGuyBill

That may be the same problem. The Roth IRA was not being taxed, even with $0 Basis. I didn't try it with a Traditional IRA, but it seems likely it is the same problem.

I did 'flag' a reliable Intuit employee/developer on the other post about it, and he said he would let the proper person know about it.

But even after they realize it is a problem, the typical turn-around time is not very fast. So you may need to wait it out until they fix it, or possibly even use overrides in the software to make it calculate correctly.

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