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Retirement tax questions
The only way I could make this work is two 1099's.
The first one was for the taxable amount of $30,000. I put that same amount in box 2a, Total Distribution, Box 5 was 0, Code G and no Roth IRA or Roth 401K. The second was for the balance of the $100,000 on the 1099...$70,000. Nothing in box 2a, total distribution, and I changed Box 5 to $70,000. No Roth 401K, and yes to Roth IRA. That gave me the desired tax outcome. However, the only entry on the 1040 is 5a...the taxable amount for this 1099 on 5b is 0. There are no entries on 4a or 4b...which I believe to be correct because these funds did not come from a Roth. I am guessing the code used in box 7 would determine that and code G doesn't do it.
Will these work? My only other option to get the tax right is the first suggestion. Just list the 1099 as printed and answer NO to the Roth 401K and Roth IRA questions. I'm not so sure that might be the best way to go as what difference does it make and no changes to the 1099 (such as splitting) are necessary.