Why are there no tax line items for (401K) distributions [edited]

lou_garfinkle

Under Tax lines, you don't have tax lines for (401K) like your have for SIMPLE, Ira, and pension. Seems to have to treat a distribution form a (401K) as an IRA.

lou_garfinkle

There's nothing to explain this anywhere. Don't know why this was left out.

Jim_Harman

This is a good question. Perhaps it should not be an Idea post.

I edited the title to clarify the issue.

[Deleted User]

I think the reason why there isn't a separate 401(k) Distribution tax line is that 401(k) distributions are lumped together with distributions for 403(b), 457(b), pensions, and Annuities in Line 5 of the 1040 - Pensions and Annuities

IRA Distributions are reported in Line 4 of the 1040 - IRA Distributions

So right now, I think the appropriate tax line item to use for a 401(k) distribution is "1099-R Total pension gross distrib."

Jon

@CaliQkn They have separate tax lines for SIMPLE IRA transactions even though (if I'm not mistaken) those get lumped in with IRA withdrawals on line 4. So it seems like they could add lines for 401K as well, though as you note you can use the pension tax line as a workaround.

[Deleted User]

@Jon I totally agree. I just giving my opinion about why they don't have a separate 401(k) tax line item.

Chris_QPW

Quick question (and I already know the answer), When was the last time Quicken Inc (or even Intuit before them) updated the tax lines?