Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), only the earnings from the returned contribution in box 2a should be listed as taxable.
To preview Form 1040:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
To ensure to rollover is correctly entered into TurboTax, TurboTax should ask you the following questions after you entered the 1099-R with code G :
- On the "Was this money rolled over to a Roth IRA?" screen answer "No"
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