DaveF1006
Expert Alumni

Get your taxes done using TurboTax

 Yes, this was not handled correctly. You should have received a 1099R reporting $8000 as the amount in Box 1. Federal income Tax in box 4 and a distribution code "G" in Box 7.

 

As it stands now, only $6400 has been rolled into your Roth account. A second 1099R is issued that is subject to a early withdrawal penalty.  In addition, it may have been reported as taxable income on your return. You do need a 1099R to correct this mistake because this makes a huge difference in your return.

 

[Edited 03/26/24|4:15 pm PST]

 

@Hippo24 

 

 

 

 

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