chapjim
New Member

Retirement tax questions

TurboTax does not give the opportunity to respond as you say in Lines 3 and 4.  Nevertheless, when I go to the 1040 preview, it does say ROLLOVER under Line 5a.

 

But, in the comparison between 2021 and 2020, my gross income increases despite the fact that I retired at the end of September 2021.  The increase in gross income it attributable to the 401(k) rollover. 

 

I was looking for some way to offset which is why I tried to reflect the rollover amount as a contribution to an IRA.  As I mentioned in my first post, that triggered some ominous results.

 

I'll go through your suggestions again but it seems a lot depends on the Distribution Code (G, in my case) but that comes from the 1099-R.  No options for me.