I am importing 1099-R information from my IRA brokerage. I rolled funds from Traditional IRA into my employer's Traditional 401k. In 1099-R, IRA/SEP/SIMPLE is checked and Box 7 has the code G. When I enter this in Turbo Tax, I get the following question:
"Double check Box 7 and the IRA box on your 1099-R
You indicated that you converted a traditional IRA to a Roth IRA with Code G in Box 7. However, if this is true it should have Code 1, 2, or 7 instead.
If the money you took out isn’t from a traditional IRA, then the IRA box should not be checked.
If you need to make changes, select Back. If this matches exactly what’s on your form, we recommend you contact your provider to correct it."
Is TurboTax handling the case of transferring from SIMPLE IRA to T-401k incorrectly or is the mistake in 1099-R?
