Hello, @DanaB27 ,
Hoping all is fine at your end. As a follow up from our last year's conversation, yes, I did receive 2023 Form 1099-R for the following transactions:
1.) $ for move from Traditional IRA account to 401K account. Box 7 code: G. IRA/SEP/SIMPLE box is checked on 1099-R, and 2b Totals Distribution box is checked. Side note: if you see the prior conversation, I had to do this to avoid high tax from pro-rate rule.
2.) $6000 contribution to Traditional IRA, which was then moved back to my personal account as Return of excess funds distribution to undo traditional IRA contribution. It has some amount that's taxable. Box 7 code 82. IRA/SEP/SIMPLE box is checked on 1099-R
However, after entering both 1099-R forms in turbo tax, both are categorized as income, which is incorrect. Please advise what needs to be done to fix this.
Best!
Gulsheen
