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Retirement tax questions
Thanks for the replies. Let me clarify that I am still getting the same suggestion when I run through the process of importing 1099-R into TurboTax. The questions are little different from what's called out in the first response. Here's a more thorough steps I am seeing.
1099-R contains:
2b: Total Distribution is checked
7: Distribution Code: G
IRA/SEP/SIMPLE is checked
Turbox Tax Questions & Answers provided:
1. Did any funds go into HSA/need substitute/corrected 1099-R - None of these apply
2. Did you move the money to a Roth IRA? - No
After these questions I am seeing the suggestion to Double check the imported file. When I respond 'This is correct', I don't see any additional tax I owe to Federal or State. This is what I expected to see from such a transfer. just this suggestion from Turbo Tax is throwing me off.