Irene2805
Expert Alumni

Retirement tax questions

It doesn't sound like you are in the correct section of the interview.  Please delete the 1099-R and reenter it.  You will be able to do this on the 1099-R summary screen.

 

Since you rolled over the 401k distribution to a Roth IRA, the distribution will be taxable.  Contributions to your 401k are before-tax while funds in a Roth IRA are after-tax.  

 

If Box 7 of your 1099-R contains code 1, 2, or 7, indicate the rollover by following these steps:

  1. Click on Federal > Wages & Income.
  2. Scroll down to the Retirement Plans and Social Security section and click on the Start/Revisit box next to IRA, 4701(k), Pension Plan Withdrawals (1099-R). 
  3. If you've already entered one (or more) 1099-Rs, you will see a screen Review Your 1099-R Info.  Click on the Edit link next to the 1099-R you wish to review.   
  4. If you haven't already entered a 1099-R, you will see the screen, Your 1099-R. Click Yes and then Continue. 
  5. On the screen, Who gave you a 1099-R,  make sure you click the box for the correct form you received:  Financial institution/other provider (1099-R); Office of Personnel Management (CSA-1099-R); Office of Personnel Management (CSF1099-R); or U.S. Railroad Retirement Board (RRB 1099-R)
  6. You can either import your 1099-R or click on the I'll type it in myself box 
  7. If you select to enter the information yourself, continue through the screens, answering the interview questions.
  8. A few screens after the 1099-R input screen, you should see a screen, Tell us if [you] moved the money through a rollover or conversion
  9. Mark the radio button next to I converted some or all of it to a Roth IRA.
  10. On the next screen indicate how much of the distribution was converted.  

 

If your 1099-R has different information, please respond to this thread with the details.