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

lou_garfinkle · August 13

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 · August 20

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

Jim_Harman · August 20

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

I edited the title to clarify the issue.

[Deleted User] · August 20

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 · August 20

@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] · August 20

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

Chris_QPW · August 20

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

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

Reviewed · Last Updated November 10

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