- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Answer NO to the two Roth questions and you are done. A Traditional IRA is the default.
If you are previewing the 1040 form and it is not on line 16a with the word ROLLOVER next to it, the delete the 1099-R and re-enter it. Enter the code G in box 7 and be sure that the IRA/SEP/SIMPLE box next to box 7 is NOT checked.
It WILL show as income on the summary because it IS income - just not taxable income.
If you are previewing the 1040 form and it is not on line 16a with the word ROLLOVER next to it, the delete the 1099-R and re-enter it. Enter the code G in box 7 and be sure that the IRA/SEP/SIMPLE box next to box 7 is NOT checked.
It WILL show as income on the summary because it IS income - just not taxable income.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎June 3, 2019
10:19 AM