Glad I found you all! Hope I can join in on this conversation because I am so lost.
I have two 1099’s. The first one was from the 401K of my former employer. I rolled that money over to a traditional IRA (second 1099). This traditional IRA was later converted to a Roth.
So the problem is that it looks like I’m being taxed on both 1099s- the initial from the old employer and the new from the new brokerage.
The most current 1099 (second one) makes sense. I have a distribution code of ‘2’ and the 2A is taxable.
But it’s the first 1099 I’m stuck on. It shows distribution code of ‘G’ which makes sense. But it also shows the same taxable Income in box 2A.
So, my question is, should I have received taxable income (box 2A) on my first 1099 if I rolled that over to the traditional IRA?
I called my former employer, but they said they can’t do anything since the money is no
longer with them.
Please advise.
