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Retirement tax questions
Thank You for your rapid reply.
In re-reading my original post, I realize I confused people with my wording. I rolled over PART ($50K) of my 401k, but the ENTIRE roll-over amount ($50K) was rolled into a ROTH with another money manager, so the entire portion would be taxable. I believe the answer is the same, the entire amount is taxable by both Federal and State, and the 1099-R I received is in error. When I enter it into Turbotax like this, the end results appear as I would expect them. I will seek to get a corrected 1099-R.
‎February 11, 2025
8:20 AM