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Retirement tax questions
What do you do if your Tax Yr 2021 1099-R is reporting a transfer (distribution) from an employer 401(k) "after tax" contributions (Fidelity) to a Roth IRA (not a Roth 401K) and box 7 Distribution code is "G". The form is showing Taxable Income (Box 2a) which is fairly small compared to the gross distribution in box 1, and I was told this was the amount of gain the employer 401k account made with the after-tax contributions. When I enter the data Turbotax asks "...did this distribution go into a Roth 401(k) fund..." which I think is a NO, because a Roth IRA is not the same thing as a Roth 401(k) according to other reading I've done .
‎April 9, 2022
12:30 PM