ProSeries is defaulting to 100% taxable for IRA distribution when input is present for the taxable portion. What is needed to get the software to recognize the input?

[TaxGuyBill]

Did you enter all of the codes in Box 7?  What are the codes?

It is unusual to have a the "taxable" amount for an IRA because in most cases the custodian would not know the taxable amount, so the software does not look at it in most cases.  In some cases the custodian would know, and the codes in Box 7 would tell ProSeries about those situations.

[margowalkercpa]

The 1099-R has a code of '7'. The taxpayer recontributed most of it within the 60 day period after the distribution.  When I add a 'G' in the second space, ProSeries shows 100% as the rollover.

[TaxGuyBill]

Does the 1099-R actually show anything in Box 2a or show code "G"?  If not, don't enter that.

Scroll about 2/3 of the way down on the 1099-R worksheet, and there is an area for rollover information.

[Just-Lisa-Now- · Accepted solution]

You dont input a G if the form has a 7.

If they rolled some of it over, you need to scroll down to Page 2 of he 1099R worksheet and enter the amount that was rolled.

[margowalkercpa]

Thank you.