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Get your taxes done using TurboTax
I have entered that the money reported in the Roth 1099-R was all rolled over and I put in the amount. However, that doesn't change the total taxable amount on 1040 line 4b or my total taxes due. Nor does it change anything on the turbotax easy entry 1099-r data sheet.
Oddly to me, I'm never asked which IRA it was placed back into. There are two standard IRA accounts in addition to the Roth.
I am not being taxed on the Roth distribution since that amount of money is not included on 1040 line 4b, only on line 4a. Could my problem be that the brokerage company should have only reported my net distribution on the 1099 they sent , i.e. the initial distribution minus the amount put back within the 60 days? The 1099-R they prepared only shows the initial distribution.