In 2024 my employer began offering the Roth IRA option. I contributed money to both Roth and standard 401-K. Since I'm over 59 1/2, I rolled most of my 401-K (pre-tax and post-tax) to a self-directed IRA.
I received a 1099-R showing a distribution of $25K in Box 1 (gross distribution) and $24K in Box 5 (Roth Contribution). I would have expected those numbers to be equal. The Box 2a taxable amount is $0.
I know when you have a Code G rollover, you have to enter it as two separate 1099-Rs, one for pre-tax and one for post-tax. Do I handle the $1K difference? If there was a $1K amount in Box 2a, it would have made sense to me.
Can anybody tell me why the numbers in Box 1 and Box 5 are different, and what is the status of the $1K difference?
