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Retirement tax questions
The code G indicates that it is a rollover and the code B indicates that it is a Roth account. You will want to make sure that you enter both codes when entering the 1099-R. It seems as if you only have the Code G in there. To do this:
- Go into the Federal > Income & Expenses > Retirement Plans & Social Security > IRA, 401(k), Pension Plan Withdrawals (1099-R) section.
- Click Review next to the 1099-R that has the Code BG
- Under the entry for Box 7, click the box that says I have more than one value in Box 7 and enter the other code.
Once you have both codes in, TurboTax will know it was a rollover from a Roth account and it should not ask if it is going to a traditional or Roth IRA.
‎February 12, 2022
7:51 AM