flyinak
New Member

Does a direct rollover from a ESOP retirement plan to a traditional IRA treated as income? I entered my 1099-R into Turbo Tax, and it is coming up as taxable income

Does a direct rollover from a ESOP retirement plan to a traditional IRA treated as income? I entered my 1099-R into Turbo Tax, and it is coming up as taxable income. Yes box 7 is checked as G

macuser_22
Level 15

Retirement tax questions

Income, yes, on the income summary screen.   Taxable income, no, on line 4b on the 1040 screen.

If on line 4b, the delete the 1099-R and re-enter.  Code G should also have a zero in box 2a.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**