Does Tax Planner have issues picking up last years inc/exp to produce expected Inc Tax results?

Question

My Tax Planner is set to 2019, and is not picking up IRA RMD withdrawals, nor my Pension payments as taxable income.  Social Security and other income is there.  It is essentially proposing complete refund of all taxes withheld last year.  ALL other reports, such as my Itemized Report or Taxable Itemized Report show all the data just fine. The Tax Summary Report from the Tax Center page does add in Pension, but still no IRA withdrawals. Other reports on the Tax Center page are YTD, so no help for 2019.

Sherlock · Accepted Answer

I suggest you verify that the transfer transactions from the IRA are assigned the appropriate tax line item.  For example, 1099-R:Total IRA taxable distrib.  This may be applied by opening the register, pressing Ctrl + Shift + E, selecting Tax Schedule, the tax line item in the Transfers out: pull down menu, OK, and OK.

dsttexas · Accepted Answer

OK. Got it all straightened out. Also followed instructions in "FAQ: Best way to handle distributions from IRA".

Sherlock · Accepted Answer

The account entered for the transfer in the Cindy Trust split appears to be incorrect.  I think it should be: [Cindy's IRA]

Sherlock · Accepted Answer

The distributions are transfers but should be treated as taxable income when assigned an appropriate tax line item.

We're now moving on from the Tax Planner to reports.

If you expand the transfer accounts on the Tax Summary report you should be able to confirm the Tax Item.  You may prefer the appearance of the Tax Schedule report.

I'm not familiar with the Itemized Tax Categories, A, B, D, C, F report but if you check the IRA accounts on the Categories tab, uncheck the IRA accounts on the Accounts tab, and do not exclude all transfers on the Advanced tab when you customize the report, the IRA distributions should appear.

Sherlock · Accepted Answer

If the pension distribution is taxable, it should be associated with 1099-R: Total pension taxable dist.