I converted some of my 401(k) into a Roth IRA. I received my 1099-R from Fidelity and it has a distribution code of G. When I enter this into Turbo Tax it treats it as a non-taxable event. It is my understanding that I should be taxed on the amount withdrawn from the 401(k). I have the same amount entered in both Box 1 and Box 2A.
Is the distribution code incorrect and should be 7 or is there an issue with Turbo Tax in that it isn't taxing the withdrawal amount?
